Fuel prices drop in latest EPRA review

Tuesday, May 14th, 2024 18:30 | By
Fuel pump used for illustration. PHOTO/Total Energy.
Fuel pump used for illustration. PHOTO/Total Energy.

The Energy & Petroleum Regulatory Authority (EPRA) has announced the new maximum retail prices of petroleum products, effective from May 15 to June 14, 2024.

During this period, consumers can expect a decrease in the maximum allowed pump prices for Super Petrol, Diesel, and Kerosene.

New fuel prices

Super Petrol will decrease by Ksh 1.00 per litre, Diesel by Ksh 1.20 per litre, and Kerosene by Ksh1.30 per litre.

Fuel prices
A filling station. PHOTO/EPRA

"In accordance with Section 101(y) of the Petroleum Act 2019 and Legal Notice No.192 of 2022, the Energy & Petroleum Regulatory Authority (EPRA) has calculated the maximum retail prices of petroleum products which will be in force from 15th May 2024 to 14th June 2024.

"In the period under review, the maximum allowed petroleum pump price for Super Petrol, Diesel and Kerosene decrease by KShs.1.00 per litre, KShs.1.20 per litre and KShs.1.30 per litre respectively," EPRA announced through a statement by Director General Daniel Kiptoo.

These prices include the 16% Value Added Tax (VAT), aligning 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.

EPRA also shed light on the factors driving these price adjustments. The average landed cost of imported Super Petrol saw a 3.82% increase, rising from US$737.69 per cubic meter in March 2024 to US$765.87 per cubic meter in April 2024.

Diesel experienced a slight decrease of 0.46%, falling from US$722.51 per cubic meter to US$719.21 per cubic meter, while Kerosene saw a modest increase of 0.50%, climbing from US$725.31 per cubic meter to US$728.97 per cubic meter during the same period.

"The average landed cost of imported Super Petrol increased by 3.82% from US$737.69 per cubic metre in March 2024 to US$765.87 per cubic metre in April 2024; Diesel decreased by 0.46% from US$722.51 per cubic metre to US$719.21 per cubic metre while Kerosene increased by 0.50% from US$725.31 per cubic metre to US$728.97 per cubic metre" EPRA revealed.

Fuel prices in cities

Fuel prices are set to change across major cities in Kenya, affecting motorists' expenses. In Nairobi, Mombasa, Nakuru, Kisumu, and Eldoret, adjustments will be observed for all types of fuel.

In Nairobi, motorists will pay Ksh192.66 per litre for petrol, Ksh179.39 per litre for diesel, and Ksh169.01 per litre for kerosene.

Relief at pump as fuel prices drop marginally
Fuel pump. PHOTO/Print

Mombasa residents, on the other hand, will face prices of Ksh189.66 for Super Petrol, Ksh176.01 for diesel, and Ksh165.69 for kerosene.

Similarly, in Nakuru, the prices will be Ksh191.90 for petrol, Ksh178.62 for diesel, and Ksh168.26 for kerosene.

Eldoret motorists will pay Ksh192.67, Ksh179.39, and Ksh169.02 for petrol, diesel, and kerosene, respectively. However, specific prices for Kisumu were not provided in the report.

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