The Energy and Petroleum Regulatory Authority (EPRA) has reduced fuel prices for the period between May 15 and June 14, 2024.
In its monthly review report released on Tuesday May 14, EPRA set the maximum price of Super Petrol per liter at Ksh192.84 in Nairobi.
Additionally, the authority indicated that one liter of Diesel will sell at Ksh179.18 in Nairobi while a liter of Kerosene will retail at a maximum of Ksh168.76.
Further, the authority explained that average landed cost of imported Super Petrol increased by 3.82% in March, that of diesel reduced by 0.46% in April while that of Kerosene increased by 0.50%
“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,” noted EPRA.
On the other hand, Super Petrol, Diesel and Kerosene will retail at Ksh191.90, Ksh178.62 and ksh168.26 in Nakuru. In Eldoret the products will sell at Ksh192.67, Ksh179.39 and Ksh169.02 respectively.
In Mombasa Super Petrol, Diesel and Kerosene will retail at Ksh189.66, Ksh176.01 and Ksh165.69.
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EPRA on April Fuel Prices
In its April review, EPRA set the maximum price of Super Petrol per lite at Ksh193.84 in Nairobi, Diesel at Ksh180.38 while a liter of Kerosene retailed at a maximum of Ksh170.06 in Nairobi.
The April prices marked a reduction in the cost of Super Petrol by KSh5.31. The price of Diesel and Kerosene also decreased by Ksh10.00 per litre and Ksh18.68 per litre respectively.
Also Read: EPRA Announces Fuel Prices for April-May Cycle
Reduction in Fuel Consumption
A previous EPRA report highlighted a decline in Kenya’s fuel usage in 2023, noting that Kenyans consumed 4.3 million cubic meters of fuel that year, a decrease from 4.5 million cubic meters in a comparable period in 2022.
During this period, the government raised the fuel tax from eight percent to 16 percent, resulting in notable price hikes for super petrol, diesel, and kerosene nationwide.
However, come December 2023, there was a surge in demand for petroleum products due to heightened travel activity associated with the festive season.
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