The Energy & Petroleum Regulatory Authority (EPRA) has released some good news for Kenyan motorists, announcing a decrease in the maximum retail prices of petroleum products for the period Friday to 14th July 2024.

This decrease comes alongside a reduction in the average landed cost of imported fuels.

The biggest price drop will be seen in diesel, with a decrease of Sh6.08 per litre. Super petrol will see a reduction of Sh3.00 per litre, while kerosene prices will go down by Sh5.71 per litre.

It's important to note that these prices are inclusive of the 16 per cent Value Added Tax (VAT) and are in line with various legal acts including the Finance Act 2023, the Tax Laws (Amendment) Act 2020, and Legal Notice No. 194 of 2020.

The decrease in pump prices can be attributed to a decline in the average landed cost of imported fuels.

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Super petrol saw a 1.95 per cent decrease from US$765.87 per cubic metre in April 2024 to US$750.95 per cubic metre in May 2024. Diesel followed a similar trend with a 3.92 per cent reduction, while kerosene prices witnessed a more significant drop of 6.84 per cent.

This news will likely be welcomed by Kenyan consumers who have been grappling with high fuel costs in recent months.

The decrease in pump prices is expected to provide some financial breathing room for motorists and potentially stimulate economic activity in sectors reliant on transportation.