NAIROBI, Kenya, Feb 14 – A liter of petrol, diesel, and kerosene starting at midnight today will cost Sh1 less after the Energy and Petroleum Regulatory Authority (EPRA) reviewed fuel prices downward.
In Nairobi, one liter will retail at Sh206.36, a drop from Sh207.36 currently.
Whereas a liter of diesel will go for Sh195.47, a similar volume of kerosene will cost Sh193.23.
EPRA moves to slash prices follow a 1.71 percent decline in the average landed cost of imported super petrol from $677.78 per cubic meter in December last year to $666.16 last month.
Diesel fell by 3.08 percent to $728.03, with kerosene also dropping by 1.17 percent to $718.51.
“In the period under review, the maximum allowed petroleum pump price for Super Petrol, Diesel, and Kerosene decreased by KShs 1.00 per liter, respectively,” EPRA said.
“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.”
For the second month in a row, fuel prices have been dropping due to a slowdown in the global economy, which has dampened demand.
Lower energy costs are a boon for Kenyan manufacturing, motorists, and households as they reduce the cost of production as well as save money.
