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In adherence to the regulatory frameworks outlined in Section 101(y) of the Petroleum Act 2019 and Legal Notice No.192 of 2022, the Energy and Petroleum Regulatory Authority (EPRA) has announced the forthcoming adjustments in the maximum retail prices of petroleum products, applicable from April 15, 2024, to May 14, 2024.
According to EPRA’s calculations, there will be a notable decrease in the maximum allowed pump prices for Super Petrol, Diesel, and Kerosene during this review period. Specifically, Super Petrol will see a reduction of KShs.5.31 per litre, while Diesel will decrease by KShs.10.00 per litre, and Kerosene will experience the most significant decrease of KShs.18.68 per litre.
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These revised prices, inclusive of the 16% Value Added Tax (VAT) as mandated by the Finance Act 2023 and the Tax Laws (Amendment) Act 2020, also incorporate the updated rates for excise duty adjusted for inflation, in accordance with Legal Notice No. 194 of 2020.
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The adjustment in fuel prices comes as welcome news for consumers amidst concerns over the rising cost of living and inflationary pressures. The reduction is expected to alleviate some of the financial burdens faced by Kenyan households, particularly those heavily reliant on kerosene for cooking and lighting purposes.
EPRA’s commitment to regularly reviewing and adjusting fuel prices in accordance with prevailing market dynamics and regulatory frameworks underscores its mandate to ensure fair and transparent pricing in the petroleum sector.
In Nairobi, super petrol will retail at Sh193.84, Diesel at Sh180.38 and Kerosene at Sh170.06.
Mombasa residents will purchase super petrol at Sh190.66, Diesel at Sh177.21 and Kerosene at Sh166.99.
In Nakuru, the price of fuel will retail at Sh192.90 for the super petrol, Diesel at Sh179.82 and Kerosene at Sh169.56.
In accordance with 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 15th April 2024 to 14th May 2024.
In the period under review, the maximum allowed petroleum… pic.twitter.com/M5LfNZosVe
— Energy and Petroleum Regulatory Authority (@EPRA_Ke) April 14, 2024
The last review of fuel prices by the Energy and Petroleum Regulatory Authority (EPRA) was in mid-March.
Epra reviewed fuel prices leading to a reduction of petrol pump price by Sh7.21 per litre.
In the March review, the Authority also reduced prices per litre of diesel by Sh5.09 and that of kerosene by Sh4.49.
Earlier, President William Ruto said Kenyans are going to witness a decrease in fuel prices by Sh10.
Addressing the congregation during Sunday worship at ACK St. Peter’s Cathedral in Nyeri, Ruto expressed that the prices would decrease by Sh10, marking a significant advancement for the nation.
“Today, the cost of maize flour, which previously stood at Sh200, has nearly halved to approximately Sh100, and the Kenyan shilling has exhibited resilience against the dollar,” he remarked.
“Fuel prices, which had surged, are now experiencing a downward trend by Sh10. These developments are attributed to our commitment to making prudent decisions, prioritizing efficacy over mere popularity,” the President articulated.
He called upon leaders nationwide to maintain their focus, recognizing the unique opportunity they possess to enact transformative change within the country.
“Other nations, which have surged ahead, have successfully eradicated poverty, achieved industrialization, and demonstrated progress, all attributable to their leaders’ adoption of sound decision-making and proactive leadership,” Ruto emphasized.
