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The Energy Petroleum Regulator Authority (EPRA) has announced a reduction in the prices of Super Petrol, Diesel, and Kerosene as part of its latest monthly price review. In a statement released on Thursday, EPRA disclosed that the cost of petrol would decrease by Ksh.5, while Diesel and Kerosene would see a drop of Ksh.2 and Ksh.4 per litre, respectively.
Consequently, in Nairobi, the new retail prices per litre will be Ksh.212.36 for petrol, Ksh.201.47 for Diesel, and Ksh.199.05 for Kerosene.
The adjustment in fuel prices is attributed to a decline in the landed costs of Super Petrol, Diesel, and Kerosene. EPRA explained that the average landed cost of imported Super Petrol decreased by 16.11%, from US$827.75 per cubic meter in October 2023 to US$694.44 per cubic meter in November 2023. Diesel also experienced a 5.43% reduction, moving from US$873.42 per cubic meter to US$826.01 per cubic meter, while Kerosene decreased by 6.63%, going from US$813.90 per cubic meter to US$759.93 per cubic meter.
EPRA further highlighted that the price of diesel has been subsidized with that of Super Petrol. Additionally, to support the economy, the government, through the National Treasury, has identified resources within the current financial framework to compensate Oil Marketing Companies, thereby stabilizing the resulting diesel price.
