The Energy and Petroleum Regulatory Authority (EPRA) has announced new fuel prices for the next month.
In a statement on Thursday, March 14, EPRA reduced the price of Super Petrol, Diesel and Kerosene by Sh7.21, Sh 5.09 and Sh 4.49 per litre respectively.
“In accordance with Section 101(y) of the Petroleum Act 2019 and Legal Notice No.192 of 2022, the Energy & Petroleum Regulatory Authority (EPRA) has calculated the maximum retail prices of petroleum products which will be in force from 15th March 2024 to 14th April 2024.
“In the period under review, the maximum allowed petroleum pump price for Super Petrol, Diesel and Kerosene decrease by KShs.7.21 per litre, KShs.5.09 per litre and KShs.4.49 per litre respectively,” read the statement in part.
In Nairobi, Super Petrol, Diesel and Kerosene will now retail at Sh199.15, Sh190.38 and Sh188.74 for the next 30 days.
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In Mombasa, Super Petrol will retail at Sh 195.97, Diesel at Sh 187.21 and Kerosene at Sh 185.58.
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 EPRA, the average landed cost of imported Super Petrol increased by 5.60% from US$666.16 per cubic metre in January 2024 to US$703.49 per cubic metre in February 2024.
Diesel on the other hand decreased by 0.76% from USS728.23 per cubic metre to US$722.49 per cubic metre while Kerosene increased by 1.65% from US$718.51 per cubic metre to US$730.35per cubic metre.
This comes after President William Ruto told Kenyans to expect new reduced fuel prices.
Speaking in Kericho while launching several projects, the Head of State announced that his administration has made elaborate plans which will see the product record a decrease in retail prices.
"Even the price of fuel is going to reduce just relax. They are going to announce a new price today, so relax," Ruto stated.
