The Energy Petroleum Regulatory Authority (EPRA) has announced a reduction in fuel prices for December, marking the second consecutive drop in petroleum costs. In its latest review, EPRA lowered the prices of Super Petrol, Diesel, and Kerosene.
Super Petrol prices will decrease by Ksh.4.37 per litre, while Diesel and Kerosene will each drop by Ksh.3. EPRA confirmed that the new prices, inclusive of the 16% Value Added Tax (VAT), comply with the Finance Act 2023, the Tax Laws (Amendment) Act 2020, and the revised excise duty rates adjusted for inflation.
Starting at midnight on Saturday, a litre of Super Petrol in Nairobi will retail at Ksh.176.29, Diesel at Ksh.165.06, and Kerosene at Ksh.148.39. In Mombasa, Super Petrol will cost Ksh.173.05, Diesel Ksh.161.82, and Kerosene Ksh.145.15.
EPRA attributed the price reduction to lower landed costs of fuel products in November. The average landed cost of imported Super Petrol declined by 4.46%, from US$641.14 per cubic metre in October to US$612.53 in November.
However, landed costs for Diesel and Kerosene increased. Diesel rose by 5.76%, from US$608.61 to US$643.69 per cubic metre, while Kerosene climbed by 1.87%, from US$648.15 to US$660.30 per cubic metre.
The updated prices aim to reflect global market trends and provide relief to consumers.
