The Energy and Petroleum Regulatory Authority (EPRA) has announced new fuel prices for the period between November 15 and December 14, 2023.
In a statement on Tuesday, EPRA Director General Daniel Kiptoo announced that the price of petrol will remain unchanged for the period under review. On the other hand, the price per litre for diesel and kerosene dropped by Ksh.2.
This means, for the next one month, a litre of petrol will be retailed at Ksh217.37, diesel at Ksh203.47 while Kerosene at Ksh 203.06.
“In the period under review, the maximum allowed petroleum pump price for Super Petrol remain unchanged while that of Diesel and Kerosene decrease by KShs.2.00 per litre.
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,” stated EPRA.
Further, the regulator stated that the government had taken steps to cushion Kenyans from the skyrocketing fuel prices.
“In order to cushion consumers from the spike in pump prices as a consequence of the increased landed costs, the Government has opted to stabilize pump prices for the November December 2023 pricing cycle. The National Treasury has identified resources within the current resource envelope to compensate Oil marketing Companies.”
Previous pump prices
In previous review released in October, Super Petrol retailed at Ksh217.36 per liter in Nairobi, Diesel at Ksh205.47, and Kerosene at Ksh 205.06.
Notably, the price of Super Petrol increased by Ksh5.72 per liter, diesel by Ksh4.48 and kerosene by Ksh2.45.
Also Read: EPRA Announces New Fuel Prices
Furthermore, EPRA’s announcement on September 14, 2023, saw fuel prices jump to a record high.
The Senate Majority Leader Aaron Cheruiyot proposed making changes at EPRA ahead of the fuel prices review for the month of November 14, 2023.
”We may even have to legislate the time by which they are to speak, to keep us a bit calmer,” Cheruiyot stated.
In addition, the legislator stated that the current EPRA announcements has been the most awaited in Kenyan history.
”We’ve never awaited EPRA’s monthly price release as we have to do lately,” the senator noted.
Also Read: Museveni Ditches Kenya as Ruto’s Deal Increases Fuel Prices in Uganda
Low Fuel Prices Globally
Earlier in November, the global oil prices fell by 3 percent, recording the lowest price since prices spiked in the wake of the conflict between Israel and Hamas in October.
Internationale Nederlanden Groep (ING) analysts Warren Patterson and Ewa Manthey stated that the drop could be attributed to the market being less concerned about crude oil supply disruptions from Middle Eastern countries.
Also, Tanzania’s Ministry of Energy on November 1, indicated that the prices of petrol, diesel and Kerosene would decrease significantly following a decrease in world oil prices by 5.68 per cent.
However, Energy Cabinet Secretary Davis Chirchir on November 6 told the National Assembly, that fuel prices would hit record high of Ksh300 per litre in Kenya because of th war in Hamas.
