EPRA Announces Reduction In Oil Prices As Landing Costs Reduces

Key Take Aways

• Super petrol reduced by Ksh5 to retail by Ksh207.
• Dieses reduced by Ksh5 to retail by Ksh196.
• Kerosene reduced by Ksh4.83 to retail by Ksh194.

NAIROBI, JAN 14 – It’s a relief for Kenyans as Energy and Petroleum Regulatory Authority (EPRA) announces reduction of oil prices for the second time in a row. The price of petrol and diesel is reduced by Ksh5 and kerosene by Ksh4.82.

According to EPRA, supper petrol will retail at Ksh207.76 per litre, diesel at Ksh196.47  and kerosene at Ksh194.23 in Nairobi.

However the prices of the same fuel will differ an different parts of the country owing to costs incurred in transporting the precious commodity to those areas.

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EPRA said that the drop in price of oils is as a result of decrease in landing cost of imported super petrol which went down by 2.4 percent and that of diesel by 9.06 per cent while that one of kerosene by 4.33 percent.

“The average landed cost of imported super petrol decreased by 2.4 percent from US$694.44 per cubic metre in November 2023 to US$677.78 per cubic metre in December 2023,” said EPRA.

“Diesel decreased by 9.06 percent from US$826.01 per cubic meter while kerosene decreased by 4.33 percent from US$759.93 per cubic metre to US$727.00 per cubic metre,” said EPRA.

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The prices are inclusive of 16 percent value added tax (VAT) in line wit the provision of finance Act 2023, the tax law act 2020.

The new oil prices by EPRA comes just a month after the authority announced a reduction in prices which saw super petrol reducing by Ksh5, diesel at Ksh2 and kerosene at Ksh4.