The Energy and Petroleum Regulatory Authority (EPRA), in a statement issued on Sunday, January 14, announced the new fuel prices for January to February. In the notice, Super Petrol decreased by ksh5, Diesel by Ksh5, and Kerosene by Ksh4.82 per litre.
The new rates will be in force from 15th January 2024, up to 14th February 2024.
For consumers in Nairobi, the new prices for the fuels will be Ksh.207.36 per litre for super petrol, Ksh.196.47 per litre for diesel, and Ksh.194.23 per litre for kerosene.
Meanwhile, in Mombasa, the rates will be Ksh.204.30 per litre for super petrol, Ksh.193.41 per litre for diesel, and Ksh.191.05 per litre for kerosene.
EPRA attributed the price drop to a 2.40% decrease in the average landed cost of imported super petrol between November and December of the previous year. Diesel experienced a 9.06% reduction, and kerosene saw a decrease of 4.33% during the same period.
“The average landed cost of imported super petrol decreased by 2.40% from US$694.44 per cubic metre in November 2023 to US$677.78 per cubic metre in December 2023; diesel decreased by 9.06% from US$826.01 per cubic metre to US$751.15 per cubic metre while kerosene decreased by 4.33% from US$759.93 per cubic metre to US$727.00 per cubic metre,” stated EPRA.
EPRA also clarified that the new prices include the 16% Value Added Tax (VAT) as per the provisions of the Finance Act 2023, the Tax Laws (Amendment) Act 2020, and the revised rates for exercise duty adjusted for inflation.
Daniel Kiptoo, the Director General of EPRA, mentioned that the price of diesel has been cross-subsidized with that of super petrol.
“Oil Marketing Companies (OMCs) will be compensated for the under-recovery costs from the Petroleum Development Levy (PDL) Fund,” Kiptoo stated.
