NAIROBI, Kenya– Kenyans can at least breathe a sigh of relief after the Energy and Petroleum Regulatory Authority (EPRA) announced a decrease in the cost of fuel.
In its June review, EPRA decreased released Super Petrol, Diesel, and Kerosene by Ksh 3 per litre, Ksh 6.08 per litre, and Ksh 5.71 per litre, respectively.
“By Section 101(y) of the Petroleum Act 2019 and Legal Notice No.192 of 2022, we have calculated the maximum retail prices of petroleum products, which will be in force from June 15, 2024, to July 14, 2024,” EPRA announced in a public notice seen by Y News.
How much will fuel retail in Nairobi
EPRA said that in Nairobi, Super Petrol, Diesel and Kerosene will now retail at Ksh 189.84, Ksh 173.10 and Ksh 163.05 effective midnight for the next 30 days.
According to the statement signed by EPRA Director General Daniel Kiptoo Bargoria, the prices include 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.
See the average landed cost of imported fuel
Kiptoo further disclosed that the average landed cost of imported Super Petrol decreased by 1.95% from US$765.87 per cubic metre in April 2024 to US$750.95 per cubic metre in May 2024.
Diesel decreased by 3.92% from US$719.21 per cubic metre to US$690.99 per cubic metre, while Kerosene decreased by 6.84% from US$728.97 per cubic metre to US$679.14 per cubic metre.
“The purpose of the Petroleum Pricing Regulations is to cap the retail prices of petroleum products which are already in the country so that importation and other prudently incurred costs are recovered while ensuring reasonable process to consumers,” said Kiptoo.
Meanwhile, EPRA assured 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.
