EPRA Reduces Fuel Prices For Second Month In A Row
The price of both Super Petrol and Diesel decreased by Ksh5, with Kerosene decreasing by Ksh4.82 per litre respectively.
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The Energy and Petroleum Regulatory Authority (EPRA) has once again reduced the fuel prices for the period between Monday, January 15, 2024 and Wednesday, February 14, 2024.
In the latest monthly review, the price of both Super Petrol and Diesel decreased by Ksh5, with Kerosene decreasing by Ksh4.82 per litre respectively.
"In the period under review, the maximum allowed petroleum pump price for Super Petrol, Diesel and Kerosene decrease by Kshs.5.00, Kshs.5.00 and KShs.4.82 per litre respectively.
"In Nairobi, Super Petrol, Diesel and Kerosene will now retail at Ksh207.36, Ksh196.47 & Ksh194.23 effective midnight for the next 30 days," stated EPRA in part.
New fuel prices as announced by EPRA on January 14, 2024. /VIRALTEAKE
EPRA explained that 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.
According to the authority's Director General Daniel Kiptoo, the price of Diesel has been cross-subsidized with that of Super Petrol. Oil Marketing Companies (OMCs) will be compensated for the under-recovery of costs from the Petroleum Development Levy (PDL) Fund.
"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," added the statement.
Across the country, motorists in other major cities will also enjoy the reduction in prices, with those in Mombasa paying Ksh204.3, Ksh193.41, and Ksh191.05 for Petrol, Diesel, and Kerosene respectively.
Motorists in Eldoret will enjoy reduced fuel prices of Ksh207.12 for Petrol, Ksh196.65 for Diesel, and Ksh194.43 for Kerosene. Additionally, Nakuru residents will part with Ksh206.35 for Petrol, Ksh195.88 for Diesel, and Ksh193.66 for Kerosene, all per litre.
Kisumu motorists will pay Ksh207.12, Ksh196.64, and Ksh194.42 for Petrol, Diesel, and Kerosene respectively.
The decrease sees Kenya follow its counterparts, Tanzania, who lowered fuel prices by Ksh5 barely two months after being reduced in November 2023.
Effective January 3, 2024, at 12:01 am, Tanzanians began paying cheaper prices for oil from the ports of Dar es Salaam, Tanga and Mtwara.
Retail prices of petrol and diesel imported through the Dar es Salaam port will see a drop of Tsh74 (Ksh4.62) and Tsh148 (Ksh9.24) per litre, respectively.
As per the new schedule in Dar, petrol currently retails at Tsh 3,084 (Ksh193.52) a litre while diesel retails for Tsh 3,078 (Ksh193.14) and Kerosene at Tsh 3,510 (Ksh219.19).
In Tanga, the prices are Tsh 3,064 (Ksh192.26) for petrol, Tsh 3,219 (Ksh201.02) for diesel and 3,556 (Ksh223.14) for kerosene.
In Mtwara, the fuel currently retails at Tsh 3,201 (Ksh200.86), Tsh 3,456 (Ksh216.86) and Tsh 3,582 (Ksh224.77) for petrol, diesel and kerosene respectively.
In Kenya, EPRA reduced the price of Super Petrol, Diesel and Kerosene by Ksh5, Ksh2 and Ksh4.01 per litre respectively, the biggest decrease margin in more than two years.
In Nairobi, Super Petrol, Diesel and Kerosene last month retailed at Ksh212.36, Ksh201.47 & Ksh199.05 effective midnight on December 15, 2023, for 30 days.
Kenyans had grappled with record-high prices as follows: Super Petrol, Diesel and Kerosene retail at Ksh217.36, Ksh205.47 and Ksh205.06 respectively in October.
Energy Cabinet Secretary (CS) Davis Chirchir on November 6, 2023, told the National Dialogue Committee (NADCO) that the Israel-Hamas war could risk pushing up fuel prices in the country to Ksh300 per litre.
However, President William Ruto announced on November 18, 2023, that Kenyans would enjoy decreased fuel prices in December, days after EPRA began reducing the price of Diesel and Kerosene.
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