Kenyans Receive Festive Relief as EPRA Cuts Pump Prices

Kenyans will have it a little easier throughout December after the Energy Petroleum Regulator Authority (EPRA) adjusted fuel prices downward in its latest monthly price review.

In a Thursday statement, EPRA announced a reduction in the price of Super Petrol by Sh5, while both Diesel and Kerosene have been lowered by Sh2 and Sh4, respectively.

“The prices are inclusive of 16 per cent Value Added Tax in line with the provision of the Finance Act 2023, the Tax Laws (Amendment) Act 2020, and the revised rates for exercise duty adjusted for inflation as per legal notice No.194 of 20220,” Epra said

As a result, in Nairobi, the revised prices will result in petrol retailing at Sh 212.36, diesel at Sh201.47, and kerosene at Sh199.05 per litre.

The adjustments took effect at midnight for the next 30 days.

In Mombasa, the revised prices will see petrol retailing at Sh209.3, diesel at Sh198.41, and kerosene costing Sh195.92.

Fuel Prices in Eldoret and Nakuru

Meanwhile, in Eldoret, petrol will be priced at Sh212.12, diesel at Sh201.65, and kerosene at Sh199.23. In Nakuru, the rates will be Sh211.35 for petrol, Sh200.88 for diesel, and Sh198.46 for kerosene.

EPRA attributed the decrease to a decline in the landed cost of imported petrol.

“The average landed cost of imported Super Petrol decreased by 16.11% from US$827.75 per cubic metre in October 2023 to US$694.44 per cubic metre in November 2023; Diesel decreased by 5.43% from US$873.42 per cubic metre to US$826.01 per cubic metre while Kerosene decreased by 6.63% from US$813.90 per cubic metre to US$759.93 per cubic metre,” the Authority said.

EPRA also mentioned that the price of diesel has been cross-subsidized with that of Super Petrol. Additionally, to provide additional economic relief, the government has chosen to stabilize the resulting diesel price.

“Government through the National Treasury has identified resources within the current resource envelope to compensate Oil Marketing Companies,” said EPRA.

The post Kenyans Receive Festive Relief as EPRA Cuts Pump Prices appeared first on Nairobi Wire.