Kenyans will have a slight relief at the pump after the latest Energy and Petroleum Regulatory Authority (EPRA) review of fuel prices.
EPRA has calculated the maximum retail prices of petroleum products, which will be in force from Saturday to 14th November 2022.
In the latest review released on Friday evening, EPRA considered the weighted average cost of imported refined petroleum products in line with Government policy.
According to the changes in the maximum allowed petroleum pump prices in Nairobi, Super Petrol, Diesel and Kerosene decreased by Sh1.00 per litre, Sh2.00 per litre and Sh1.00 per litre respectively.
Mombasa residents will still buy Super Petrol at Sh175.98 per litre, Diesel will retail at Sh160.76 while Kerosene will retail at Sh144.69.
Fuel pump prices for Super Petrol will retail at Sh178.50, Diesel will stand at Sh163.70 and Kerosene will also remain at Sh147.66 in Kisumu.
The prices are inclusive of the 8 per Value Added Tax (VAT) in line with the provisions of the Finance Act 2018, 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 average landed cost of imported Super Petrol decreased by 10.60 per cent from US$812.91 per cubic metre in August 2022 to US$726.77 per cubic metre in September 2022; Diesel decreased by 6.87 per cent from US$949.68 per cubic metre to US$884.46 per cubic metre while Kerosene decreased by 1.82 per cent from US$899.56 per cubic metre to US$883.22 per cubic metre.
A subsidy of Sh8.15 per litre and Sh27.47 per litre has been maintained for Diesel and Kerosene respectively in order to cushion consumers from the otherwise high prices.
The Government will utilise the Petroleum Development Levy to compensate oil marketing companies for the difference in cost.
The Free On board (FOB) price of Murban crude oil lifted in September 2022 was posted at US$ 105.96 per barrel a decrease of 9.84per cent from US$ 117.53 per barrel in August 2022.
Over the same period, the mean monthly US Dollar to Kenya Shilling exchange rate depreciated by 2.69 per cent from Sh120.64.
The following is the full list of the reviewed fuel prices across the country: