NAIROBI, Kenya, June 15 – The Energy and Petroleum Regulatory Authority (EPRA) has cut fuel prices, reducing the burden on motorists.
EPRA’s monthly fuel update shows that petrol and diesel prices have dropped by Sh0.66 and Sh1.12, respectively.
A liter of super petrol will now retail at Sh182.04 and diesel at Sh167.28 in Nairobi.
The drop in prices is a result of a drop in the average landed cost of imported super gasoline by 1.09 percent from $724.01 per cubic metre in April to $716.15 cubic metre in May 2023.
However, the price of a liter of kerosene has increased by Sh0.35 to Sh161.48.
“Taking into account the weighted average cost of imported refined petroleum products, the changes in the maximum allowed petroleum pump prices in Nairobi are as follows: Super Petrol and Diesel decrease by Kshs.0.66 per litre and Kshs.1.12 per litre respectively while Kerosene increases by Kshs.0.35 per litre,” EPRA said in a statement.
“The prices are inclusive of 8% Value Added Tax (VAT) in line with the provisions of the Finance Act 2018, the Tax Laws (Amendment) Act 2020 and the revised rates for excise duty adjusted for inflation as per Legal Notice No. 194 of 2020.”
Prices of fuel products could go up next month as Finance Bill 2023 proposes to increase VAT on fuel products by 8 percent to 16 percent.
