EPRA has said new petrol and diesel prices for the period between February 15 and March 14, 2024 will drop by Sh1
The Energy and Petroleum Regulatory Authority has reduced the price of petrol, diesel and kerosene prices by Sh1, to align with a drop in the price of world crude oil over the past three months.
EPRA said in a statement on Wednesday, February 14, that the new prices are inclusive of 16% Value Added Tax (VAT), which is 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.
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“In accordance with Section 101(y) of the Petroleum Act 2019 and Legal Notice No.192 of 2022, the Energy and Petroleum Regulatory Authority (EPRA) has calculated the maximum retail prices of petroleum products which will be in force from 15th February 2024 to 14th March 2024,” it said.
This means that for the next 30 days, maximum “allowed petroleum pump price” for super petrol, diesel and kerosene will drop by Sh1 per litre, inclusive of 16% Value Added Tax (VAT)
In Nairobi, super petrol, diesel and kerosene will now retail at Sh206.36, Sh195.47 and Sh193.23 respectively.
The average landed cost of imported super petrol decreased by 1.71% from $677.78 per cubic metre in December 2023 to $666.16 per cubic metre in January 2024.
