EPRA Reduces Fuel Prices Hours After Ruto's Promise

The Energy and Petroleum Regulatory Authority (EPRA) has announced another reduction of fuel prices for the next month, hours after President William Ruto promised the same.

The latest monthly review announced on Thursday, March 14 reads as follows; Super Petrol prices reduced by Ksh7.21. Diesel was reduced by Ksh5.09 and Kerosene by Ksh4.49.

"In Nairobi, Super Petrol, Diesel and Kerosene will now retail at Kshs.199.15, Kshs.190.38 and Kshs.188.74 effective midnight for the next 30 days," EPRA announced.

During the previous month, fuel prices were as follows: In Nairobi, Super Petrol, Diesel and Kerosene retailed at Ksh206.36, Ksh195.47 and Ksh193.23.

The latest prices are inclusive of the 16 per cent 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.

EPRA took into consideration the drop in the value of the dollar among other factors in calculating the latest fuel prices.

In particular, the applied exchange rate used in the latest review was Ksh148, in comparison with Ksh164.42 used last month to get the fuel prices.

"The trade of petroleum products in the international markets is denominated in United States Dollars (USD), and an exchange rate is applied to convert the USD to Ksh during the computation of local pump prices," EPRA noted.

In Mombasa, a litre of Petrol will retail at Ksh195.97 while Diesel will retail at Ksh187.21 whereas residents will purchase a litre of Kerosene for the next one month at Ksh185.58.

Motorists in Kisumu will buy a litre of Super Petrol at Ksh198.97 and Diesel at Ksh190.59 while EPRA set the price of Kerosene at Ksh188.96 per litre.

In Nakuru and Eldoret, motorists will purchase a litre of Super Petrol at Ksh198.21 and Ksh198.98 respectively.

The decrease came merely hours after President Ruto told Kenyans to expect lower fuel prices this month.

"I want to tell you that even the price of fuel is going down, you guys relax. What date is it today? The new fuel prices will be announced today, so relax," Ruto assured gathered residents in Kericho County after promising them better job opportunities.

"I told you I have everything under control, so just relax and know that everything is fine."