In a recent review announced on Thursday, March 14th, the Energy and Petroleum Regulatory Authority (EPRA) has made significant adjustments to fuel prices across various regions in Kenya. Effective midnight, Super Petrol prices have been reduced by Ksh7.21 per litre, Diesel by Ksh5.09 per litre, and Kerosene by Ksh4.49 per litre.
In Nairobi, consumers will now find Super Petrol, Diesel, and Kerosene retailing at Ksh199.15, Ksh190.38, and Ksh188.74 per litre, respectively. EPRA attributes this price reduction to several factors, including a drop in the value of the dollar. The exchange rate used in the latest review was Ksh148, compared to Ksh164.42 from the previous month.
EPRA emphasizes that international petroleum product trade is conducted in United States Dollars (USD), with an applied exchange rate for conversion to Kenyan Shillings (Ksh) during the computation of local pump prices.
In Mombasa, the new prices stand at Ksh195.97 for Petrol and Ksh187.21 for Kerosene per litre. Additionally, residents of Mombasa will enjoy a discounted rate of Ksh185.58 per litre of Kerosene for the next month.
Kisumu residents will now purchase Super Petrol at Ksh198.97, Diesel at Ksh190.59, and Kerosene at a capped price of Ksh188.96 per litre. Meanwhile, in Nakuru and Eldoret, motorists will pay Ksh198.21 and Ksh198.98 for Super Petrol, and Ksh189.82 and Ksh190.59 for Diesel, respectively.
This significant price adjustment comes shortly after President William Ruto hinted at the possibility of lower pump prices during a development tour in Kericho. Ruto attributed the price drop to strategies implemented by his administration.
The newly announced prices are inclusive of the 16 per cent Value Added Tax (VAT), as per the provisions of the Finance Act 2023, the Tax Laws (Amendment) Act 2020, and the revised rates for excise duty adjusted for inflation, in accordance with Legal Notice No. 194 of 2020.
With these adjustments, consumers across the country can anticipate some relief in their fuel expenses, providing a welcome respite amidst economic uncertainties.
