The Energy and Petroleum Regulatory Authority (EPRA) has announced that the maximum retail prices for Super Petrol and Diesel will remain unchanged for the period from Saturday to October 14th, 2024.

However, consumers will benefit from a slight decrease in the price of Kerosene.

In a press release issued on Saturday, EPRA stated that the decision to maintain Super Petrol and Diesel prices was based on a review of global market trends and local factors.

The average landed cost of these fuels experienced only minor fluctuations during the period under review.

The most notable change is in the price of Kerosene, which has been reduced by Sh3.43 per litre. 

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The maximum retail prices for Super Petrol, Diesel, and Kerosene for the period are Sh188.84 per litre, Sh171.60 per litre, and Sh158.32 per litre, respectively in Nairobi.

This reduction is attributed to a decrease in the average landed cost of Kerosene from US$705.74 per cubic meter in July 2024 to US$668.34 per cubic meter in August 2024.

The EPRA emphasized that the prices are inclusive of the controversial 16 per cent Value Added Tax (VAT) as per the provisions of the Finance Act 2023, the Tax Laws (Amendment) Act 2020, and the revised rates for excise duty adjusted for inflation as per Legal Notice No. 194 of 2020.   

The EPRA's decision to maintain fuel prices while reducing the cost of Kerosene is expected to provide some relief to consumers, particularly those who rely on kerosene for cooking and lighting.

However, the overall impact on the Kenyan economy will depend on other factors, such as inflation and interest rates.