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Kenya's Fuel Consumption and Demand Decline in 2023

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According to the latest data from the Energy and Petroleum Regulatory Authority (EPRA), Kenya's fuel consumption fell to 4.3 million cubic meters in 2023, down from 4.5 million cubic meters in 2022. The decline in demand can be attributed to the government's increase in fuel taxes and the depreciation of the local currency.

Kenya's fuel consumption and demand fell last year, the latest data from the Energy and Petroleum Regulatory Authority shows.

The depreciation of the local unit against major foreign currencies, such as the American Dollar, also made fuel importations costly, with oil marketing companies passing on extra charges to consumers. "The demand of petroleum products through the period under review was steady with the highest consumption level being recorded in August 2023," the Authority wrote in the report.

 

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