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The Energy and Petroleum Regulatory Authority (EPRA) has reduced the prices of Petrol, Diesel, and Kerosene have been reduced by Ksh 1 each for the next month.
In a statement on Wednesday, EPRA announced that liter of petrol will retail at Ksh206.36 In Nairobi while diesel will be valued at Ksh195.47 and Kerosene at Ksh 93.23.
“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.
“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,” EPRA stated.
Long queue in petrol station due to fuel shortage courtesy
The regulator 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 while Diesel decreased by 3.08% from US$751.15 per cubic metre to US$728.03 per cubic metre.
Kerosene on the other hand decreased by 1.17% 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 stated.
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