The Energy and Petroleum Regulatory Authority (EPRA) in Kenya has announced a reduction in maximum retail prices for petroleum products, providing relief after months of price hikes. Across the board, prices will decrease by Sh5 per litre, with an additional Sh0.82 decrease for Kerosene. The new prices, effective from January 14 to February 14, will benefit consumers, particularly in Nairobi, where Super Petrol will now cost Sh207.36 per litre.
The decline is attributed to a drop in international oil prices, with Super Petrol, Diesel, and Kerosene seeing reductions of 2.4%, 9.06%, and 4.33%, respectively. While this reduction is a positive development, it’s important to note that the prices still include 16% Value Added Tax and adjusted excise duty rates. The hope is that lower fuel costs will stimulate economic activity, benefiting various industries, despite the continued influence of international market fluctuations and exchange rate variations on local costs.
