The Energy and Petroleum Regulatory Authority (EPRA) has reduced fuel prices for the period between July 15 and August 14, 2024.
In its monthly review report released on Sunday, July 14, EPRA set the maximum price of Super Petrol per liter at Ksh 188.84 in Nairobi.
Furthermore, the authority stated that one liter of Diesel will retail at Ksh 171.60 in Nairobi while a liter of Kerosene will retail at a maximum price of Ksh 161.75 for the period under review.
“Super Petrol, Diesel and Kerosene will now retail at Kshs.188.84, Kshs.171.60 and Kshs.161.75 respectively in Nairobi starting midnight” noted EPRA.
The new rates reflect a decrease by KSh 1.00, KSh 1.50, and KSh 1.30 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.1.00, KShs.1.50 and KShs.1.30 per litre respectively,” EPRA further noted.
Also Read: CBK Reveals Latest Trend in Global Oil Prices Ahead of EPRA Review
CBK on Trends of Global Oil Prices
On July 12, the Central Bank of Kenya (CBK) in its weekly bulletin stated that global oil prices had declined during the week ending July 11.
According to CBK, the decline reflected reduced concerns over supply disruptions by oil producing companies.
At the same time, CBK reported that inflation concerns in advanced economies continued to ease in June, driven by lower gasoline prices and moderating rental rates.
The US dollar index weakened by 0.66 percent against a basket of major currencies during the week ending July 11.
“International oil prices declined during the week ending July 11, reflecting reduced concerns over supply disruptions. Murban oil price declined to USD 85.18 per barrel on July 11 compared to USD 87.44 per barrel on July 4,” read part of the bulletin.
Also Read: EPRA Reduces Fuel Prices for July & August Cycle
EPRA on May – June Oil Prices
In its July and August Cycle, the Energy and Petroleum Regulatory Authority (EPRA) lowered the cost of super petrol by Ksh1, marking a reduction in fuel prices across the country for the third time consecutively.
Similarly, the price of diesel and kerosene decreased by Ksh1.2 per liter and Ksh1.30 per liter, respectively.
In Nairobi, super petrol was retailing at a maximum of Ksh192.84, diesel at Ksh179.18, and kerosene at a maximum of Ksh168.76 per liter.
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