EPRA Announces Fuel Prices for January – February
EPRA Announces Fuel Prices for January – February
EPRA Announces Fuel Prices for January – February
The new fuel prices for January and February were revealed by the Energy and Petroleum Regulatory Authority (EPRA) on Sunday.In a statement, EPRA said that Super Petrol reduced by ksh5, Diesel by Ksh5, and Kerosene 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 Ksh.4.82 per litre respectively,” stated a portion of the statement.Diesel will retail for Ksh196.47, Kerosene for Ksh194.23, and Super Petrol for Ksh207.36 in Nairobi.
According to EPRA, the revised rates for exercise duty that have been adjusted for inflation are included in the new prices, together with the 16 percent Value Added Tax (VAT) as specified by the Finance Act 2023 and the Tax Laws (Amendment) Act 2020.Daniel Kiptoo, director general of the authority, continued, “The price of super petrol has been cross-subsidized with that of diesel.”
“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.
“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,” said Kiptoo.
Notably, Kenyans were expecting a dip because of the drop in pricing on the international market at the time of the announcement.However, Kenyans were cautioned to brace for increased fuel prices due to the weakening Shilling in a CEO poll carried out by the Central Bank of Kenya (CBK).The Shilling is expected to continue to lose value, according to CBK’s report from last week. The current value of Ksh159.85 is being exchanged for one dollar.