The Energy Petroleum Regulatory Authority (EPRA) has recently disclosed a reduction in the prices of Super Petrol, Diesel, and Kerosene as part of its monthly price review. In the latest announcement made on Thursday, EPRA revealed that the cost of Super Petrol would decrease by Ksh.7.21, while Diesel would see a reduction of Ksh.5.09, and Kerosene prices would drop by Ksh.4.49.
Effective from midnight on March 15th to April 14, 2024, the new prices will come into effect. In Nairobi, consumers can expect Super Petrol to retail at Ksh.199.15 per litre, Diesel at Ksh.190.38 per litre, and Kerosene at Ksh.188.74 per litre.
EPRA clarified that these prices are inclusive of the 16% Value Added Tax (VAT), adhering to the stipulations outlined in 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.
The reduction in fuel prices is likely to come as a welcome relief for motorists and consumers, offering some respite from the financial burden associated with transportation and household energy costs. This adjustment in fuel prices reflects changes in global oil markets and other economic factors, ultimately impacting local pricing structures.
