The Energy and Petroleum Regulatory Authority (EPRA) has announced a reduction in fuel prices for December, marking the second consecutive drop in petroleum costs. In its latest review, EPRA revealed that the prices of Super Petrol, Diesel, and Kerosene would decrease, providing some relief to consumers.
Starting at midnight on Saturday, December 16, the price of Super Petrol in Nairobi will drop by KES 4.37 per litre, to retail at KES 176.29. Diesel will see a reduction of KES 3 per litre, bringing its price to KES 165.06, while Kerosene will also drop by KES 3 per litre, now costing KES 148.39. In Mombasa, Super Petrol will be priced at KES 173.05, Diesel at KES 161.82, and Kerosene at KES 145.15.
According to EPRA, the price adjustment is a reflection of the lower landed costs of fuel products in November. “The average landed cost of imported Super Petrol decreased by 4.46% in November, from KES 641.14 per cubic metre in October to KES 612.53,” EPRA stated. This decline in landed costs for Super Petrol is the primary reason behind the price drop.
However, despite the reduction in Super Petrol prices, the landed costs for Diesel and Kerosene saw an increase. The price of Diesel rose by 5.76%, from KES 608.61 to KES 643.69 per cubic metre, while Kerosene climbed by 1.87%, from KES 648.15 to KES 660.30 per cubic metre.
The new fuel prices, inclusive of the 16% Value Added Tax (VAT), comply with the Finance Act 2023, the Tax Laws (Amendment) Act 2020, and revised excise duty rates adjusted for inflation. EPRA assured that these changes reflect global market trends and will be beneficial to consumers.
