May 22, 2024

Matatu Owners Association issues new fare directive after EPRA fuel price review

3 min read
Matatu Owners Association issues new fare directive after EPRA fuel price review

Matatu Owner to reduce fare prices by Ksh20 during off-peak hours after the latest EPRA fuel review

Matatu Owner to reduce fare prices by Ksh20 during off-peak hours after the latest EPRA fuel review

Speaking to local media on Thursday, Brendan Marshall, senior Matatu Owners Association (MOA) member pointed out that they would reduce the amount to an average of Ksh20 depending on the route.

For instance, he noted that if a Sacco charged passengers Ksh70 during off-peak hours, it would slightly drop to around Ksh50.

However, he reaffirmed that the fare during peak hours would remain the same.

“The government had gradually increased the fuel prices by around Ksh50 or higher by last year. In the recent past, it has cumulatively dropped by around Ksh10. It won’t make a great impact at the pump. For it to be quite effective, it needs to reduce by a wider margin,” he stated.

“We thank the government and appreciate the effort but basically in terms of fare, we will have minimal adjustments hence people should not expect drastic changes.”

“For off-peak hours, we will slightly change to accommodate more passengers. During peak hours, it will remain the same, hence if it was Ksh100, it will be at a constant rate.”

Marshall expressed confidence that the passengers would be the beneficiaries if the fuel prices continue to drop in the coming months.

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“As investors, we welcome it because the business of PSVs is based on fuel prices. So it means service fees and maintenance will go down and the crew will be able to hit the set targets. We hope insurance premiums also go down,” he added.

He added that owing to technological advancement, newer models of vehicles consume less fuel and are more durable. On the other hand, he noted that they cost more than the old versions.

“You find an advanced chassis will now cost around Ksh7 million from the initial Ksh6.4 million. If you invest such an amount, you expect an ROI (Return on Investment). If fuel drops by a wider margin, Kenyans will be the biggest beneficiaries,” he pointed out. 

On Thursday, March 14, the Energy and Petroleum Regulatory Authority (EPRA) lowered the prices of petrol, diesel and Kerosene by Ksh7.21, Ksh5.09 and Ksh4.49 respectively.

This translated to a drop below the Ksh200 mark for petrol as it will retail at Ksh199.15 while Diesel and Kerosene will go for Ksh190.38 and Ksh188.74.

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