The Energy and Petroleum Regulatory Authority (EPRA) has reduced fuel prices for the period between June 15 and July 14, 2024.
In its monthly review report released on Friday, June 14, EPRA set the maximum price of Super Petrol per liter at Ksh189.84 in Nairobi.
Additionally, the authority indicated that one liter of Diesel will retail at Ksh173.10 in Nairobi while a liter of Kerosene will retail at a maximum price of Ksh163.05.
The new rates are a decrease by KSh3, KSh6.08 and KSh5.71 for Super Petrol, Diesel and Kerosene prices respectively.
“In the period under review, the maximum allowed petroleum pump price for Super Petrol, Diesel and Kerosene decrease by KShs.3.00, KShs.6.08 and KShs.5.71 per liter respectively.
“In Nairobi, Super Petrol, Diesel and Kerosene will now retail at Kshs.189.84, Kshs.173.10 and Kshs.163.05 effective midnight for the next 30 days,” stated EPRA.
Also Read: Oil Prices Rise Ahead of EPRA Review for June
Fuel Prices in Other Counties
This marks a reduction in fuel prices across the country for the third time consecutively.
Further, EPRA stated that 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.
On the other hand, Super Petrol, Diesel and Kerosene will retail at Ksh188.90, Ksh172,54 and ksh162.57 in Nakuru. In Eldoret the products will sell at Ksh189.67, Ksh173.31 and Ksh163.34 respectively.
In Mombasa Super Petrol, Diesel and Kerosene will retail at Ksh186.66, Ksh169.93 and Ksh160.00. At the same time, the fuel products will retail at Ksh189.66, Ksh173.31 and Ksh163.34 in Kisumu.
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In its May review, EPRA set the maximum price of Super Petrol per liter at Ksh192.84 in Nairobi.
One liter of Diesel sold at Ksh179.18 in Nairobi while a liter of Kerosene retailed at a maximum of Ksh168.76.
Also Read: EPRA Reduces Fuel Prices for May & June Cycle
Increase in Global Oil Prices
Prior to the announcement on June 3, the Central Bank of Kenya (CBK) announced that international oil prices had increased in the last week of May 2024.
According to CBK, the prices increased by Ksh150.075 before a meeting by Organization of the Petroleum Exporting Countries (OPEC+) held on Sunday, June 2, 2024.
CBK said murban oil prices increased from Ksh10,909 to Ksh11,059 per barrel between 23rd and 30th of May.
“International oil prices rose during the week ending May 30 attributed to growing global demand. Murban oil price increased to USD 84.75 (Ksh11,059.88) per barrel on May 30 compared to USD 83.60 (Ksh10,909.80) per barrel on May 23 in anticipation of the OPEC+ meeting scheduled for June 2, 2024,” CBK said.
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