A Relief to Kenyans
The Energy and Petroleum Regulatory Authority (EPRA) has announced a significant fuel price reduction, bringing relief to consumers across the country. As part of the October-November price review, the price of Super Petrol has been slashed by Sh8.18 per litre, now retailing at Sh180.68 in Nairobi. Diesel has seen a reduction of Sh3.54 per litre, now priced at Sh168.06, while Kerosene has also dropped by Sh3.54, retailing at Sh151.39.
These new prices, effective from October 15 to November 14, 2024, are inclusive of the 16% Value Added Tax (VAT) and in accordance with the provisions of the Finance Act 2023, as well as the Tax Laws (Amendment) Act 2020. EPRA attributes the price cuts to the declining cost of imported petroleum products, with the landed cost of Super Petrol decreasing by 8.59% and that of Diesel and Kerosene falling by 5.52% and 6.73%, respectively.
Kenya imports all its petroleum products in refined form, and the prices are set based on international market benchmarks. As a result, the fuel price adjustments come as a direct reflection of global market shifts.
In Mombasa, the prices are slightly lower, with Super Petrol retailing at Sh177.42, Diesel at Sh164.82, and Kerosene at Sh148.15. Nakuru and Eldoret will see similarly reduced prices, offering a reprieve to motorists and households that rely on these essential fuels.
With these reductions, EPRA aims to stabilize the market and ease the cost burden on consumers as global oil prices fluctuate.
