Sunday, May 26, 2024

Super petrol and diesel prices drop by Ksh 5 and Ksh 2 respectively

Energy and Petroleum Regulatory Authority (EPRA) has confirmed a Ksh 5 and Ksh 2 price drop in Super petrol and Diesel prices respectively.

In there latest review, EPRA also noted kerosene price has reduced by Ksh 4.01 for a period of one month ending 14th January 2024.

“In accordance with Section 101(y) of the Petroleum Act 2019 and Legal Notice No.192 of 2022, EPRA has calculated the maximum retail prices of petroleum products, which will be in force from 𝟭𝟱𝘁𝗵 𝗗𝗲𝗰𝗲𝗺𝗯𝗲𝗿 𝟮𝟬𝟮𝟯 𝘁𝗼 𝟭𝟰𝘁𝗵 𝗝𝗮𝗻𝘂𝗮𝗿𝘆 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.

In the period under review, the maximum allowed petroleum pump price for Super Petrol, Diesel and Kerosene 𝐝𝐞𝐜𝐫𝐞𝐚𝐬𝐞 by 𝐊𝐬𝐡𝐬.𝟓.𝟎𝟎, 𝟐.𝟎𝟎 and 𝟒.𝟎𝟏 per litre respectively. In Nairobi, Super Petrol, Diesel and Kerosene will now retail at Kshs.212.36, 201.47 & 199.05 effective midnight for the next 30 days.” said EPRA

The news is a relief to Kenyans who have been calling for a reduction in pump prices as they are responsible for the high cost of living. The prices are also a promise by President William Ruto who assured Kenyans of lower prices from December.

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