Kenyans have received a much-needed break in the form of reduced fuel prices as the Energy and Petroleum Regulatory Authority (EPRA) announced a slight adjustment in the latest review.

In a move aimed at alleviating the burden on consumers, the Super Petrol price has been slashed by Sh5, while diesel and kerosene have seen reductions of Sh2 and Sh4, respectively.

Effective Thursday midnight and applicable until January 14, 2024, the revised prices in Nairobi will see Super Petrol, Diesel, and Kerosene retailing at Sh212.36, Sh201.47, and Sh199.05, respectively.

"The prices are inclusive of 16 per cent Value Added Tax in line with the provision of the Finance Act 2023, the Tax Laws (Amendment) Act 2020, and the revised rates for exercise duty adjusted for inflation as per legal notice No.194 of 2020," stated EPRA in an official statement.

Residents of Mombasa will now pay Sh209.3 for Petrol, Sh198.41 for Diesel, and Sh195.92 for Kerosene.

Read More

  1. NCBA Bank celebrates Eastleigh Branch success with vibrant customer forum
  2. EPRA directs all flooded retail filling stations to temporarily close for safety
  3. Met warning of more heavy rainfall and adverse weather conditions across Kenya

In Eldoret, prices stand at Sh212.12 for Petrol, Sh201.65 for Diesel, and Sh199.23 for Kerosene. Meanwhile, Nakuru residents will witness prices of Sh211.35 for Petrol, Sh200.88 for Diesel, and Sh198.46 for Kerosene.

The driving force behind this price reduction, according to EPRA, is a decrease in the landed cost of imported petrol.

The authority highlighted a 16.11 per cent reduction in the landing price of petrol, from US$827.75 per cubic meter in October 2023 to US$694.44 per cubic meter in November 2023.

Diesel's landing cost decreased by 5.43 per cent from US$873.42 to US$826.01 per cubic meter, while Kerosene saw a 6.63 per cent reduction from US$813.90 to US$759.93 per cubic meter.

Kenyans, experiencing the strain of a rising cost of living, have welcomed this move and are hoping for further action towards the minimal prices.

Calls for a reduction in fuel prices have echoed across all sectors of society.

The Central Bank of Kenya linked this development to a global trend, stating, "Murban oil price declined to USD 75.18 (Sh11,641) per barrel on December 7 from USD 85.51 (Sh13,240) per barrel on November 30." Currently, crude oil is trading at a low of $69 per barrel, indicating a broader international context influencing this positive change for Kenyan consumers.