By Peter Ochieng
The Energy and Regulatory Authority (EPRA) has reduced fuel prices for the second straight month.
This month’s reduction is however minimal, compared to last month which was very significant.
In the latest review, fuel prices have gone down by between Sh1 and Sh1.30. “In the period under review, the maximum allowed petroleum pump price for Super Petrol, Diesel and Kerosene decreases by KShs.1.00 per litre, KShs.1.20 per litre and KShs.1.30 per litre respectively,” said EPRA.
The authority added that 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.
In accordance with Section 101(y) of the Petroleum Act 2019 and Legal Notice No.192 of 2022, EPRA said, they calculated the maximum retail prices of petroleum products, which will be in force from 15th May 2024 to 14th June 2024.
That means that in Nairobi, the price of a litre of super petrol will retail at Sh192.84, diesel will retail at Sh179.18 while Kerosene will go for Sh168.76.
Last month, EPRA reduced the price of a litre of Super Petrol, Diesel and Kerosene by Sh5.30, Sh10.00 and Sh18.68 respectively, the biggest decrease since President William Ruto assumed office in September, 2022.
“In the period under review, the maximum allowed petroleum pump price for Super Petrol, Diesel and Kerosene decrease by KShs.5.31 per litre, KShs.10.00 per litre and KShs.18.68 per litre respectively,” EPRA stated on April 14.
Hours before the move, President Ruto had urged Kenyans to look forward to a massive reduction in prices of fuel.
“Today the price of unga that was Sh200 is almost hitting Sh100, the shilling has strengthened against the dollar. Fuel prices were up but today it is going down with Sh10. All this is because we are making the right decisions and not popular decisions.”
He spoke during a church service in Nyeri county.