The Energy and Petroleum Regulatory Authority (EPRA) has announced a decrease in the prices of super petrol, diesel, and kerosene. The new prices, effective from July 15 to August 14, 2024, will see super petrol drop by Ksh.1, diesel by Ksh.1.50, and kerosene by Ksh.1.30 per litre.
In a circular issued to newsrooms on Sunday, EPRA detailed the new pricing structure. “During the period under review, the maximum allowed petroleum pump price for Super Petrol, Diesel, and Kerosene decreased by Ksh.1.00 per litre, Ksh.1.50 per litre, and Ksh.1.30 per litre, respectively,” the statement read.
The adjustment is in accordance with Section 101(y) of the Petroleum Act 2019 and Legal Notice No.192 of 2022. EPRA has calculated the maximum retail prices for petroleum products that will be in effect from July 15, 2024, to August 14, 2024.
The revised prices include the 16% Value Added Tax (VAT) as stipulated by the Finance Act 2023, the Tax Laws (Amendment) Act 2020, and the revised excise duty rates adjusted for inflation per Legal Notice No. 194 of 2020.
“The average landed cost of imported Super Petrol decreased by 4.65% from US$750.95 per cubic metre in May 2024 to US$716.03 per cubic metre in June 2024. Diesel decreased by 1.19% from US$690.99 per cubic metre to US$682.73 per cubic metre, while Kerosene increased by 2.01% from US$679.14 per cubic metre to US$692.80 per cubic metre,” EPRA explained.
With these changes, consumers in Nairobi will now pay a maximum of Ksh.188.84 for a litre of super petrol, Ksh.171.60 for a litre of diesel, and Ksh.161.75 for a litre of kerosene.