EPRA: Fuel Prices Drop By Ksh1

It is the first time in several months that the price of fuel has been reduced.

EPRA: Fuel Prices Drop By Ksh1
A car being fuelled at a petrol station. /FILE

The Energy and Petroleum Regulatory Authority (EPRA) has announced that the fuel prices for the period between October 15 to November 14 have gone down.

The price of Super Petrol dropped by Ksh1 to Ksh178.30 per litre, Diesel dropped by Ksh2 to Ksh163 while Kerosene dropped by Ksh1 to Ksh146.94 in Nairobi.

It is the first time in several months that the price of fuel has been reduced. The new prices take effect at midnight, Friday, October 14.

EPRA lowers fuel prices for between October 15 and November 14. /VIRALTEAKE

"Taking into account the weighted average cost of imported refined petroleum products and in line with Government policy, the changes in the maximum allowed petroleum pump prices in Nairobi are as follows: Super Petrol, Diesel and Kerosene decrease by Kshs1 per litre, Kshs2 per litre and Kshs1 per litre respectively.

"The prices are inclusive of the 8% Value Added Tax (VAT) in line with the provisions of the Finance Act 2018, 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 announced.

The government agency noted that the drop in fuel prices was occasioned by the maintenance of fuel subsidies for Diesel and Kerosene.

"A subsidy of Kshs18.15 per litre and Kshs27.47 per litre has been maintained for Diesel and Kerosene respectively in order to cushion consumers from the high prices.

"The Government will utilise the Petroleum Development Levy to compensate oil marketing companies for the difference in cost," EPRA explained.

In other areas, Mombasa will sell Super petrol at Ksh175, Diesel at Ksh160 and Kerosene at Ksh144.

Kisumu will charge its motorists Ksh178 per litre of Super petrol, Ksh163 for Diesel and Ksh147 for Kerosene, a pricing that also applies in Eldoret.

Some areas will, however, purchase fuel as high as between Ksh180 and Ksh189 in the new review. The affected areas include Mwingi, Nanyuki, Migori and parts of Kisii county.

During his speech on Tuesday, September 13 after he was sworn in as Kenya's fifth Head of State, President William Ruto planned to end the fuel subsidy, arguing that taxpayers spent a total of Ksh144 billion, a whooping Ksh 60 billion in the last four months.

President William Ruto reading his speech at Kasarani Stadium after being sworn in as Kenya's fifth president on September 13, 2022. /WILLIAM RUTO