The Energy and Petroleum Regulatory Authority (EPRA) has announced a significant reduction in fuel prices effective from 15th March to 1...
The Energy and Petroleum Regulatory Authority (EPRA) has announced a significant reduction in fuel prices effective from 15th March to 14th April 2024.
On March 14, EPRA announced that the prices per liter of Super Petrol prices have been reduced by Ksh7.21, Diesel by Ksh5.09, and Kerosene by Ksh4.49.
“In the period under review, from March 15 to April 14, 2024, the maximum allowed petroleum pump price for Super Petrol, Diesel and Kerosene decreases by Ksh7.21 per liter, Ksh5.09 per liter and Ksh4.49 per liter respectively.”
EPRA stated.
New Oil Prices
As a result of this adjustment, in Nairobi, the retail prices per liter will be Sh199.15 for Super Petrol, Sh190.38 for Diesel, and Sh188.74 for Kerosene, starting from midnight.
Similarly, in Mombasa, Super Petrol will retail at Sh195.97 per liter, while Diesel and Kerosene will be priced at Sh187.21 and Sh185.58 per liter, respectively.
In Kisumu, Super Petrol will cost Ksh198.97 per liter, while Diesel is priced at Ksh190.59. Kerosene has been capped at Ksh188.96.
In Nakuru, Super Petrol will be priced at Ksh198.21 per liter, and in Eldoret, it’s Ksh198.98. Diesel will cost Ksh189.82 in Nakuru and Ksh190.59 in Eldoret.
EPRA Reduces Oil Prices
EPRA attributed the price drop to various factors, including a decrease in the value of the dollar. The applied exchange rate used in the latest review was Ksh148, compared to Ksh164.42 used in the previous month.
Additionally, EPRA emphasized that the prices are inclusive of the 16 per cent Value Added Tax (VAT) in line with the provisions of the Finance Act 2023 and the Tax Laws (Amendment) Act 2020.
“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,”
EPRA stated.
This move comes after President William Ruto hinted at the lowering of pump prices during his recent tour in Kericho. He credited the drop to strategies implemented by his administration.
The reduction in fuel prices is expected to provide relief to consumers amidst the ongoing economic challenges.
By Vivian K.
The post EPRA ANNOUNCES FUEL PRICE DROP FOR THE NEXT MONTH appeared first on BNN.
