The Energy and Petroleum Regulatory Authority (EPRA) on Sunday 14th January 2024 announced new fuel prices for the next 30 days. EPRA made an announcement that saw a decrease of Ksh5 per litre on both super Petrol and Diesel.
Kerosene prices went down by Ksh4.82 per litre.
In the period under review, the maximum allowed petroleum pump price for Super Petrol, Diesel and Kerosene decrease by Ksh5.00, Ksh.5.00 and Ksh4.82 per litre respectively,” read part of the statement.
In Nairobi, Super Petrol will now retail at Ksh207.36, Diesel at Ksh196.47, and Kerosene at Ksh194.23.
EPRA revealed that the new prices are inclusive of the 16 per cent Value Added Tax (VAT) as outlined by the Finance Act 2023, the Tax Laws (Amendment) Act 2020, and the revised rates for exercise duty adjusted for inflation.
The authority’s Director General Daniel Kiptoo added that the price of diesel has been cross-subsidized with that of super petrol. “Oil Marketing Companies (OMCs) will be compensated for the under-recovery costs from the Petroleum Development Levy (PDL) Fund,” he stated.
Meanwhile, motorists in other major cities will also enjoy the reduction in prices.
Those in Mombasa will pay Ksh204.3, Ksh193.41, and Ksh191.05 for Petrol, Diesel, and Kerosene respectively. Motorists in Eldoret will part with Ksh207.12 for Petrol, Ksh196.65 for Diesel, and Ksh194.43 for Kerosene.
Additionally, Nakuru residents will be charged Ksh206.35 for Petrol, Ksh195.88 for Diesel, and Ksh193.66 for Kerosene. Kisumu motorists will pay Ksh207.12, Ksh196.64, and Ksh194.42 for Petrol, Diesel, and Kerosene respectively.
In Bungoma town, super petrol will retail at Ksh207.94 per liter, diesel will be sold at Ksh197.47 per liter, while kerosene will retail at 195.24 per liter.
In Kakamega, super petrol will be sold at 207.17 cents per liter, diesel will be sold at 196.69 per liter while diesel will be sold at 194.47 per liter. In Mumias super petrol will be sold at 207.47 cents per liter, diesel will be sold at 196.99 per liter while kerosene will be sold at 194.76 cents per liter.
In Busia, super petrol will be sold at 208.5 per liter, diesel will be sold at 197.57 per liter, while kerosene will be sold at 195.35 per liter.
In Mbale, super petrol will be sold at 207.98 cents per liter, diesel will be sold at 196.64 per liter, and kerosene will be sold at 194.42 per liter. “EPRA wishes to assure the public of its continued commitment to the observance of fair competition and protection of the interests of both consumers and investors in the energy and petroleum sectors,” Kiptoo added.
It should be noted that the announcement came at a time when Kenyans were anticipating a drop due to the decrease in prices in the global market.
However, in a CEO survey conducted by the Central Bank of Kenya (CBK), Kenyans were warned to prepare for higher fuel prices due to the weakening Shilling.
CBK last week revealed that the Shilling is projected to depreciate further. Currently, the exchange rate stands at Ksh159.85 against the dollar.
