Matatu Owners issue statement on fare prices after fuel price fall
Matatu Owners Association to maintain fare prices despite EPRA announcing a fall in fuel prices
Matatu Owners Association to maintain fare prices despite EPRA announcing a fall in fuel prices.
Speaking in an interview with local media, Brendan Marshall, a senior member of the Matatu Owners Association (MOA), revealed that most matatus would maintain the current rates despite the fall in pump prices.
Marshall explained that this decision is influenced by several factors, including the recent increase in insurance premiums.
He noted that matatus with third-party covers are now paying Ksh600 more for their insurance.
Consequently, with these additional costs, it would be challenging to lower the fare rates.
He also detailed that investors in the transport industry were spending more on spare parts and servicing their vehicles.
“Insurance premiums also increased. Some companies used to do third-party covers for a 14-seater for Ksh6,500. Now it is 7,100. We cannot just drop the prices because fuel prices have dropped.
“We have to factor in the insurance premiums and the service kits,” he explained.
On the other hand, he added that most Kenyans travel during peak hours when there is a traffic jam, hence vehicles consume more fuel on the road.
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However, he indicated that some Saccos would prefer to adjust their off-peak hours to cushion Kenyans.
Off-peak hours are usually the hours when there is minimal traffic on the road. This is mostly between 11 am to 4 pm. During off-peak hours, fares are usually charged by Ksh 20-50 less than the peak hour rates.
Therefore as a cushion, some matatu’s may choose to extend the off-peak hours by one hour.
“We always maximize our peak hours. That is when people are traveling and they will pay the prices set. So we will probably extend the off-peak from 4 pm to 5:30 pm,” he added.
The statement by Matatu Owners comes after EPRA reduced fuel prices on Friday following a drop in international oil prices in addition to the stabilization of the shilling.
“In the period under review, the maximum allowed petroleum pump price for Super Petrol, Diesel and Kerosene decreases by Ksh3.00, Ksh6.08 and Ksh5.71 per litre respectively.
“In Nairobi, Super Petrol, Diesel and Kerosene will now retail at Ksh189.84, Ksh173.10 and Ksh163.05 effective midnight for the next 30 days,” EPRA announced.
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