The Energy & Petroleum Regulatory Authority (EPRA) of Kenya has disclosed the maximum retail prices of petroleum products for the upcoming period from March 15 to April 14 2024. A photo of a fueling station attendant and EPRA’s CEO Daniel Kiptoo Bargoria. In Nairobi, Super Petrol, Diesel and Kerosene will now retail at KSh 199.15, KSh 190.38 and KSh 188.74 effective midnight for the next 30 days. How much is the reduction in fuel prices EPRA has revealed that during this period, the maximum petroleum pump prices allowed for super petrol, diesel, and kerosene will experience a notable decrease. Specifically, Super Petrol will see a decrease of KSh 7.21 per litre, diesel will decrease by KSh 5.09 per litre, and kerosene will see a reduction of KSh 4.49 per litre. The announced reduction is significant compared to the decrease in KSh 1 for the three petroleum products, which was announced for the elapsed period between February 15 and March 14. These prices include the 16% Value Added Tax (VAT) as per 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 further elaborated on the factors influencing these price adjustments, citing changes in the average landed costs of imported petroleum products. The average landed cost of imported Super Petrol increased by 5.60% from US$666.16 per cubic meter in January 2024 to US$703.49 per cubic meter in February 2024. Conversely, diesel decreased by 0.76% from US$728.23 per cubic meter to US$722.49 per cubic meter, while kerosene saw an increase of 1.65% from US$718.51 per cubic meter to US$730.35 per cubic meter during the same period. William Ruto announces fuel prices will reduce Earlier on TUKO.co.ke President William Ruto declared that the Energy and Petroleum Regulatory Authority (EPRA) would reduce fuel prices in the upcoming monthly review. Previously, EPRA had announced a KSh 1 reduction in the maximum retail prices of petroleum products, effective from February 15 to March 14. Super petrol, diesel, and kerosene retailed at KSh 206.36, KSh 195.47, and KSh 193.23 per litre, respectively, in Nairobi during this period.
by Elijah Ntongai