EPRA Reduces Fuel Prices
EPRA Reduces Fuel Prices
The fuel rates that will be in force for the next month have been released by the Energy and Petroleum Regulatory Authority (EPRA).The most recent assessment, released by EPRA on Thursday, March 14, saw a Ksh7.21 decrease in the price of Super Petrol. Kerosene was cut by Ksh4.49 and diesel by Ksh 5.09.
In Nairobi, Super Petrol, Diesel and Kerosene will now retail at Ksh199.15, Ksh190.38 and Ksh188.74 effective midnight.
“The maximum permitted petroleum pump prices for diesel, kerosene, and super petrol decreased by Ksh5.21, Ksh5.09, and Ksh4.49 per liter, respectively, during the review period.
“The prices are inclusive of the 16 per cent 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,” the statement reads in part.
The recent decline was attributed by EPRA to a number of causes, including the declining value of the US dollar. The currency rate employed in the most recent evaluation was Ksh148, as opposed to Ksh164.42 used in the previous review.
“The trade of petroleum products in the international markets is denominated in United States Dollars (USD), and an exchange rate is applied to convert the USD to Ksh during the computation of local pump prices,” stated EPRA.
A liter of petrol will cost Ksh195.97 in Mombasa, while a liter of kerosene will cost Ksh187.21. For Ksh185.58, Mombasa locals can buy a liter of kerosene for the upcoming month.In contrast, drivers in Kisumu will pay Ksh198.97 for Super Petrol and Ksh190.59 for Diesel. EPRA set a Ksh188.96 price cap for kerosene.
In the meantime, drivers in Nakuru and Eldoret will pay Ksh198.21 and Ksh198.98, respectively, for a liter of Super Petrol. In the two cities, the price of diesel will be Ksh189.82 (Nakuru) and Ksh190.59 (Eldoret).
Notably, this month’s pump price reduction was alluded to by President William Ruto just hours before the announcement of the price reduction.During a development visit, Ruto addressed Kericho locals and attributed the decline to policies implemented by his administration.
