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 announced a considerable reduction in the maximum retail prices of petroleum products, which will take effect from March 15th, 2024, through April 14th, 2024.
While announcing on Thursday afternoon, EPRA said it had set the maximum allowed petroleum pump prices for Super Petrol, Diesel, and Kerosene at Kshs.199.15, Kshs.190.38, and Kshs.188.74 per litre respectively.
These adjustments represent decreases of KShs.7.21, KShs.5.09, and KShs.4.49 per litre for Super Petrol, Diesel, and Kerosene respectively.
In Nairobi, consumers can expect Super Petrol, Diesel, and Kerosene to retail at Kshs.199.15, Kshs.190.38, and Kshs.188.74 per litre respectively, effective midnight for the next 30 days.
These prices are inclusive of the 16% Value Added Tax (VAT), aligning 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.
This reduction in fuel prices comes as a relief to consumers amidst ongoing economic challenges, offering some respite in their day-to-day expenses.
This comes just hours after Ruto assured Kericho residents that the prices will drop today.
By Newsmedia