EPRA Reduces Fuel Prices for October & November

The Energy and Petroleum Regulatory Authority (EPRA) has announced new prices for Petrol, Kerosene, and Diesel for the period between October 15 and November 14, 2024.

In its monthly review report released on Monday, October 14, EPRA announced that Super Petrol, Diesel, and Kerosene have reduced prices by Kshs8.18, Kshs3.54, and Kshs6.93 respectively, in Nairobi starting at midnight.

“Taking into account the weighted average cost of imported refined petroleum products, the changes in the maximum allowed petroleum pump prices in Nairobi are as follows; Super Petrol, Diesel and Kerosene decrease by Kshs.8.18/litre, Kshs. 3.54 litre, and Kshs.6.93/litre respectively,” a statement from EPRA read in part.

“Super Petrol, Diesel and Kerosene will now retail at Kshs.180.66, Kshs.168.06 and Kshs.151.39 respectively in Nairobi starting midnight.”

Global Oil Prices Increase

EPRA’s prices come after the Central Bank of Kenya (CBK) announced that global oil prices increased during the week ending October 9.

In its weekly report on October 11, CBK stated that the price of Murban oil increased from Ksh9,911.94 to Ksh10,181.30.

CBK explained that the rise in international oil prices reflected high global demand for oil.

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Additionally, the Bank attributed the increase mainly to the escalation of tensions in the Middle East due to geopolitical conflicts.

“International oil prices increased during the week ending October 9, mainly driven by geopolitical tensions in the Middle East. The price of Murban oil increased to USD 78.62 on October 9, from USD 76.54 on October 3,” CBK stated.

Also Read: Global Oil Prices Rise Ahead of EPRA’s Fuel Prices Review

EPRA September-October Prices

In its September report, EPRA announced that the maximum allowable pump prices for Super Petrol and Diesel would remain unchanged, while the price of Kerosene decreased by Ksh3.43 per liter.

The maximum retail prices for Super Petrol, Diesel, and Kerosene were capped at Ksh188.84, Ksh171.60, and Ksh158.32 per liter, respectively, for the cycle.

Similarly, in the August cycle, EPRA maintained the prices for Super Petrol, Diesel, and Kerosene from the July report.

This kept the prices at Ksh188.84 for Super Petrol, Ksh171.60 for Diesel, and Ksh161.75 for Kerosene per liter in Nairobi between August 15 and September 14, 2024.

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