Super Petrol, Diesel Prices Drop Further By Ksh.3 And Ksh.6

In a welcome development for motorists and consumers across the country, the Energy and Petroleum Regulatory Authority (EPRA) has announced a significant reduction in fuel prices. The new pricing structure, effective immediately, sees a decrease of Ksh.3 for super petrol and Ksh.6.08 for diesel per litre. Kerosene prices have also been slashed by Ksh.5.71 per litre.

“The prices are inclusive of the 16% 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 in their announcement on Friday.

This adjustment means that in Nairobi, the new retail prices will be Ksh.189.84 for super petrol, Ksh.173.1 for diesel, and Ksh.163.05 for kerosene.

Super Petrol, Diesel Prices Drop Further By Ksh.3 And Ksh.6

The reduction in fuel costs is attributed to a decrease in the average landed cost of imported fuel. For super petrol, the average landed cost dropped by 1.95%, falling from US$765.87 per cubic metre in April 2024 to US$750.95 per cubic metre in May 2024. Diesel saw an even more substantial decrease of 3.92%, with prices dropping from US$719.21 per cubic metre to US$690.99 per cubic metre. Kerosene experienced the largest drop, decreasing by 6.84% from US$728.97 per cubic metre to US$679.14 per cubic metre.

This latest price review by EPRA is expected to bring some relief to households and businesses alike, as fuel costs constitute a significant portion of transportation and production expenses. The decline in fuel prices is also likely to have a positive ripple effect on the cost of goods and services, potentially easing inflationary pressures in the economy.

Consumers and industry stakeholders will be closely monitoring how these changes impact the market and whether further adjustments will be made in the coming months.