The price of petrol has reduced by Sh3, diesel by Sh6.08 per litre and that of kerosene by Sh5.71 per litre thanks to reduced landed cost charges of imported fuels between April and May this year, Energy and Petroleum Regulatory Authority (EPRA) said in a statement shared on Friday, June 14.
EPRA said the lower prices will run from June 15 to July 14, 2024 and will see super petrol, diesel and kerosene (in Nairobi) retail at Sh189.84, Sh173.10 and Sh163.05, respectively, for the next 30 days.
Consumers in Mombasa will pay a maximum of Sh186.66, Sh169.93 and Sh160 for a litre of super petrol, diesel and kerosene respectively.
“The prices are inclusive of the 16% Value Added Tax 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,” EPRA said.
Super petrol users will now pay Sh3 less for a litre of the commodity while diesel users will enjoy a huge drop in retail prices for a litre of diesel which has dropped by Sh6.08.
The average price of imported super petrol declined by 1.95 per cent from $765.87 in April to $750.95 per cubic metre in May as that of diesel dipped by 3.92 per cent to $690.99 from $719.21. Kerosene recorded a 6.84 per cent reduction from $728.97 per cubic metre in April to $694.14 in May.
“Currently, the country imports all its petroleum product requirements in refined form and the products are traded in international markets based on a pricing benchmark provided by S&P Global Platts,” EPRA Director General Kiptoo Bargoria, said.
