Up To Ksh2: EPRA Decreases Fuel Prices For July-August

The Energy and Petroleum Regulatory Authority (EPRA) has reduced fuel prices for the period between Monday, July 15 and Wednesday, August 14.

In a statement, EPRA on Sunday, July 14 announced that the prices of Super Petrol, Diesel and Kerosene all went down by Ksh1, Ksh1.50 and Ksh1.30, all per litre, respectively.

"In accordance with Section 101(y) of the Petroleum Act 2019, Legal Notice No. 196 of 2010 and Legal Notice No. 26 of 2012, we have calculated the maximum retail prices of petroleum products, which will be in force from 15th July 2024 to 14th August 2024," EPRA stated in part.

"In the period under review, the maximum allowed petroleum pump price for Super Petrol, Diesel and Kerosene decrease by Ksh.1.00 per litre, Ksh.1.50 per litre and Ksh.1.30 per litre respectively."

The new prices now read as follows: Nairobi motorists will pay Ksh188.84 for Super Petrol, Ksh171.60 for Diesel and Ksh161.75 for Kerosene. 

In the last monthly review, the fuel prices were capped at Ksh189.84 for Super Petrol, Ksh173.10 for Diesel and Ksh163.05 for Kerosene. The new prices take effect at midnight tonight.

"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," added EPRA.

In other areas across the country, a litre of super petrol will retail at Ksh185.66 in Mombasa, Ksh187.90 in Nakuru and Ksh188.67 in Eldoret.

Diesel, on the other hand, will cost Ksh168.43 in Mombasa, Ksh171.04 in Nakuru and Ksh171.81 in Eldoret.

Kerosene will be valued at Ksh158.7 in Mombasa, Ksh161.27 in Nakuru and Ksh162.04 in Eldoret.

According to EPRA, 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.

The regulator explained that the purpose of the Petroleum Pricing Regulations is to cap the retail prices of petroleum products which are already in the country so that importation and other prudently incurred costs are recovered while ensuring reasonable prices to consumers.

It assured the public of its continued commitment to the observance of fair competition and protection of the interests of both consumers and investors in the energy and petroleum sectors.

Daniel Kiptoo Bargoria, the EPRA Director General, in his speech on July 15, 2021. /EPRA KENYA