EPRA announces fuel prices with Petrol reducing by Ksh. 7.21

The Energy & Petroleum Regulatory Authority (EPRA) has released the fuel prices for the upcoming period from March 15 to April 14 2024. The prices have seen the biggest drop in recent times.

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. 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.

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 indicated that the price reduction was due to 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.