The Energy and Petroleum Regulatory Authority (EPRA) has announced the prices of petrol, diesel, and kerosene to be in effect during the period of August 15, 2024, to September 14, 2024.
In a statement, the regulatory body indicated that the prices of the fuel will remain unchanged, citing a slight decrease in the landing cost of fuel imports.
“In accordance with Section 101(y) of the Petroleum Act 2019 and Legal Notice No. 192 of 2022, the Energy & Petroleum Regulatory Authority (EPRA) has calculated the maximum retail prices of petroleum products, which will be in force from 15th August 2024 to 14th September 2024. In the period under review, the maximum allowed petroleum pump price for Super Petrol, Diesel, and Kerosene remains unchanged,” EPRA said in a statement.
The announcement comes as a sigh of relief for Kenyans, given the impact of fuel price hikes on the other factors of the economy.
It also comes in the wake of a new cabinet being formed by President William Ruto to address the challenges facing the common mwananchi after the country was rocked by weeks of nationwide protests that led to the withdrawal of the controversial Finance Bill of 2024.
EPRA said the new 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.
Reduced landing cost
The regulatory body noted that the price retention was due to a decrease in the landed cost of imported Super Petrol, which decreased by 1.06% from US$716.03 per cubic metre in June 2024 to US$708.47 per cubic metre in July 2024.
They, however, said that the landed cost of diesel increased by 1.62% from US$682.73 per cubic metre to US$693.82 per cubic metre while kerosene increased by 1.87% from US$692.80 per cubic metre to US$705.74 per cubic metre.
Cost of Fuel
The fuel prices will remain at Ksh188.84 per litre of super petrol in Nairobi, Ksh171.60 per litre of diesel, and Ksh161.75 per litre of kerosene in Nairobi.
For petrol, a total of Ksh82.75 was added on as taxes and levies, while diesel got Ksh69.71 as taxes and levies.