Petrol price drop by Ksh.1, diesel Ksh.1.50 - EPRA

EPRA announced in a circular to newsrooms on Sunday that the new prices would be effective July 15 to August 14, 2024.

"During the period under review, the maximum allowed petroleum pump price for Super Petrol, Diesel and Kerosene decreased by KShs.1.00 per litre, KShs.1.50 per litre and KShs.1.30 per litre, respectively," EPRA said on Sunday.

"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 July 2024 to 14th August 2024."

“The 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,” read the EPRA statement.

"The average landed cost of imported Super Petrol decreased by 4.65% from US$750.95 per cubic metre in May 2024 to US$716.03 per cubic metre in June 2024; Diesel decreased by 1.19% from US$690.99 per cubic metre to US$682.73 per cubic metre while Kerosene increased by 2.01% from US$679.14 per cubic metre to US$692.80 per cubic metre."

The price changes now mean that consumers in Nairobi will pay a maximum of Ksh 188.84 for a litre of super petrol, Ksh 171.60 for a litre of diesel and Ksh 161.75 for a litre of kerosene.