The Energy and Petroleum Regulatory Authority (EPRA) has announced a reduction of fuel prices for the period from July 15, 2024, to August 14, 2024.
The maximum allowed petroleum pump price for super petrol, diesel and kerosene has gone down by Ksh1, Ksh1.50 and Ksh1.30 per litre respectively.
“In accordance with Section 101(y) of the PekoJeum Act 2019 and Legal Notice No.192 of 2022, the Energy Sr Petroleum Regulatory Authority (EPRA) has calculated the maximum retail prices of petroleum products which will be in force from 15th July 2024 to 14th August 2024. In the period under review, the maximum allowed petroleum pump price for Super Petrol, Diesel and Kerosene decrease by Ksh1.00 per litre, Ksh1.50 per like and Ksh1.30 per litre respectively,” EPRA announced.
“The prices are inclusive of the 16% Value Added Tax (VAT) in hoe 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.”
Super petrol, diesel and kerosene will now retail at Ksh188.84, Ksh171.60 and Ksh161.75 per litre respectively in Nairobi starting midnight.
EPRA reveals that the average landed cost of imported super petrol decreased by 4.65% from US$750.95 per cubic metre in May 2024 to US$716.03 per cubic metre in June 2024; diesel decreased by 1.19% from US$690.99 per cubic metre to US$682.73 per cubic metre while kerosene increased by 2.01% from US$679.14 per cubic metre to US$692.80 per cubic metre.
“Currently, Kenya imports all its petroleum product requirements in refined form and the products are traded in international markets based on a pricing benchmark provided by S&P Global Platts,” EPRA added.
