EPRA reduces fuel prices in latest review
The Energy and Petroleum Regulatory Authority (EPRA) has announced new fuel prices for the period between March 15 to April 14, 2024.
In a statement on Thursday, March 14, 2024, EPRA announced the price reduction of Super Petrol, Diesel and Kerosene.
In the period under review, the maximum allowed petroleum pump price for Super Petrol, Diesel and Kerosene decreases by Ksh7.21, Ksh5.09 and Ksh4.49 per litre respectively.
"The prices are inclusive of the 16% Value Added Tax (VAT) in line with the provisions of the Finance Act 2023, the Tax Laws (Amendment) Act 2020 and the revised rates for excise duty adjusted for inflation as per Legal Notice No. 194 of 2020.
"The average landed cost of imported Super Petrol increased by 5.60% from US$666.16 per cubic metre in January 2024 to US$703.49 per cubic metre in February 2024; Diesel decreased by 0.76% from US$728.23 per cubic metre to US$722,49 per cubic metre while Kerosene increased by 1.65% from US$718.51 per cubic metre to US$730.35per cubic metre," EPRA said in a statement.
Fuel prices are lowest in Mombasa where the products first land when imported into the country.
In the Coastal City, Super Petrol, Diesel and Kerosene will now retail at Ksh195,97, Ksh187.21 and Ksh185.58 respectively effective midnight for the next 30 days.
In Nairobi, Super Petrol, Diesel and Kerosene will now retail at Ksh199.15, Ksh190.38 and Ksh188.74 respectively.
In Nakuru, Super Petrol, Diesel and Kerosene will now retail at Ksh198.21, Ksh189.82 and Ksh188.21 respectively.
In Eldoret, Super Petrol, Diesel and Kerosene will now retail at Ksh198.98, Ksh190.59 and Ksh188.98 respectively.
In Kisumu, Super Petrol, Diesel and Kerosene will now retail at Ksh198.97, Ksh190.59 and Ksh188.96 respectively.
Fuel prices are highest in far-flung areas of the country like in Lokitaung, Turkana County where Super Petrol, Diesel and Kerosene will now retail at Lokitaung Ksh207.37, Ksh199.00 and Ksh197.37 respectively.
Ruto
EPRA's fuel price reduction came hours after President William Ruto said the cost of the essential commodity would reduce significantly.
Speaking in Kericho on Thursday, March 14, 2024, Ruto expressed optimism about the EPRA's review, suggesting that fuel prices were on track to be more favourable to Kenyan consumers.
