No Fuel Price Increment – National Petroleum Authority (NPA)

The National Petroleum Authority (NPA) has assured the general public that there will be no increment in fuel prices at the pumps this festive season.

“This is as a result of a marginal drop of fuel prices on the world market. The Exchange Rate has also remained relatively stable,” the NPA announced in a statement.
 

It also said it has also “activated the price stabilization mechanism to avoid any upward adjustment in prices.”

Check Out The Full Statement After The Cut...

PRICES OF PETROLEUM PRODUCTS TO REMAIN STABLE AT THE PUMPS

The Authority wishes to advise the general public that prices of petroleum products at the pumps are expected to remain stable over the pricing window, 16th December

This is as a result of a marginal drop of fuel prices on the world market. The Exchange Rate has also remained relatively stable.

Additionally, in line with a directive from the Ministry of Energy, the Authority has activated the price stabilization mechanism to avoid any upward adjustment in prices.

The Authority has therefore adjusted the PRICE STABILIZATION and RECOVERY LEVY (PSRL) on Diesel and LPG. This adjustment will not result in any price increment.

The Authority assures the general public that it will be monitoring the prices to ensure consumers benefit from government’s decision to use the PSRL to manage variations at the pumps.

Signed

Corporate Affairs Division