Energy and Petroleum Regulatory Authority (EPRA) announced that prices for super petrol and diesel will hold steady in its latest monthly review, while the cost of kerosene will see a reduction.
This adjustment comes into effect on Sunday, September 15, and will last through October 14, 2024.
In its official release on Saturday, September 14, 2024, EPRA disclosed that while kerosene will see a price drop of Ksh3.43 per litre, the maximum allowed pump prices for both super petrol and diesel will remain unchanged.
Super petrol will continue to retail at Ksh188.84 per litre, while diesel remains at Ksh171.60 per litre. Kerosene will now sell at Ksh158.32 per litre.
“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 September 2024 to 14th October 2024,” the statement read.
EPRA further noted that these prices incorporate the mandated 16% Value Added Tax (VAT), as required by the Finance Act 2023, the Tax Laws (Amendment) Act 2020, and revised excise duty rates that account for inflation, as per Legal Notice No. 194 of 2020.
The regulator explained that Kenya imports all its petroleum products in refined form, and these prices are largely determined by international market trends and denominated in U.S. dollars.
Consequently, exchange rates play a significant role in the final pricing at the pump.
The changes follow a period of international market volatility, where international oil prices, alongside a weakening local currency, have driven costs higher, making government adjustments crucial to stabilizing domestic prices.
