The fuel prices in Kenya have hit hard in the last few years, affecting the economy, transportation, and daily life. To combat this, it is important that both businesses and commuters keep track of the latest fuel prices so that they can take better steps to manage their expenses.
In this blog, we dive into the latest fuel prices in Kenya, along with tips on how they may impact you or your business.
Additionally, we will discuss how Cartrack's fleet management solutions can help you manage your fuel costs.
Kenya’s oil industry has changed a lot over the years. In 1994, the oil industry was deregulated, meaning state interventions such as price controls and restrictions were removed. However, after complaints were laid about oil companies overcharging for fuel, it was decided that maximum retail prices would be set by location every month. This was done by the Energy and Petroleum Regulatory Authority (EPRA), who are in charge of determining the fuel price. These prices are reviewed and updated on a monthly basis and are affected by factors such as the global oil market, government interventions, and taxes.
Here are the most recent fuel price adjustments since the previous month:
Super Petrol: Price decreased by 0.14%
Diesel: Price increased by 0.06%
Kerosene: Price decreased by 1.62%
Fuel prices have a direct effect on economic growth. Therefore, both businesses and consumers must keep track of the changes to ensure they keep expenses under control.
There are important factors that are taken into consideration when determining the fuel prices in Kenya. These factors change daily, which is why they’re monitored closely by the EPRA. Let’s have a closer look:
Decreases in fuel prices are always a joy; however, they are often short-lived because of the monthly adjustments to the price. This is why motorists are encouraged to find ways to minimise the amount of fuel they use. Here are a few things you can do to save fuel:
Let’s be honest, everyone wants to save money on expenses, especially fuel costs. Cartrack understands that it is important to both individuals and businesses, which is why we have designed a solution with that in mind.
Cartrack’s fuel management systems help improve fuel consumption and cut down fuel costs with ease. Here’s how:
Cartrack’s fuel management systems allow both fleet managers and consumers to monitor fuel usage in real-time through advanced algorithms and data analytics. All this information is provided on one platform, making it simple to retrieve detailed information. You can monitor fuel usage and get reports on how much was used over a certain period.
Cartrack’s solutions provide insights into how a motorist operates a vehicle. It can be helpful to know how a driver performs, whether you’re driving your personal vehicle or as a manager overseeing a fleet. Risky behaviour such as speeding, aggressive acceleration, and idling is detected and recorded on the system. This information is used to identify behaviour that causes high fuel usage so that it can be corrected.
Cartrack’s MiFleet software is a cost management system that allows fleet managers to run all the business's costs. You can manage fuel consumption data and have a view of every refuel that is done. This enables managers to identify fuel theft and inconsistencies in reports. Cartrack fleet management systems enable fleet managers to create the most fuel-efficient routes and save fuel use per kilometre that is travelled.
Route optimisation is an important tool to save on fuel costs. It is an effective way to complete a journey, especially when there are multiple stops to complete. This software considers many factors to find the most efficient routes, which minimise travel times, fuel consumption, and vehicle wear and tear. This improves productivity and efficiency for businesses.
It is important that consumers and businesses understand these factors and find sustainable solutions. Cartrack’s fuel management solutions are the key to addressing fuel-related costs. We aim to provide a well-rounded solution. It doesn't matter if you simply want to reduce personal travel costs or if you’re managing a fleet, Cartrack’s solutions can help. Contact us to find out more.
