The Energy and Petroleum Regulatory Authority (EPRA) has reduced fuel prices from February 15, 2024, to March 14, 2024.
In a statement on Wednesday, February 14, EPRA said the prices of Petrol, Diesel and Kerosene have been reduced by Ksh 1 each.
“In the period under review, the maximum allowed petroleum pump price for Super Petrol, Diesel and Kerosene decrease by KShs.1.00 per litre respectively,” EPRA stated.
The regulator noted 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.
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Petrol will now cost Ksh 206.36 in Nairobi while Diesel and Kerosene will retail at 195.47 and 193.23 respectively.
In Mombasa Petrol, Diesel and Kerosene will cost Ksh 203.3, 192.41 and Ksh 190.05 respectively.
EPRA noted that the average landing cost of imported Super Petrol decreased by 1.71% from US$677.78 per cubic metre in December 2023 to US$666.16 per cubic metre in January 2024.
Diesel decreased from US$751.15 per cubic metre to US$728.03 per cubic metre while Kerosene decreased from US$727.00 per cubic metre to US$718.51 per cubic metre.
“The price of Diesel has been cross-subsidized with that of Super Petrol while Kerosene has been fully stabilized. Oil Marketing Companies (OMCs) will be compensated for the under-recovery of costs from the Petroleum Development Levy (PDL) Fund,” EPRA added.
