Slight Sigh for Motorists as EPRA Reduces Fuel Prices

The strain on motorists has been lessened owing to fuel price reductions by the Energy and Petroleum Regulatory Authority (EPRA).

EPRA’s monthly fuel update shows that petrol and diesel prices have dropped by Sh0.66 and Sh1.12, respectively.

In Nairobi, a liter of super petrol will now cost Sh182.04 and a liter of diesel will cost Sh167.28.

Prices have dropped since the average landing cost of imported super petrol has decreased from $724.01 per cubic metre in April to $716.15 per cubic metre in May 2023, a 1.09 percent decrease.

However, the price of a liter of kerosene has increased by Sh0.35 to Sh161.48.

“Taking into account the weighted average cost of imported refined petroleum products, the changes in the maximum allowed petroleum pump prices in Nairobi are as follows: Super Petrol and Diesel decrease by Kshs.0.66 per litre and Kshs.1.12 per litre respectively while Kerosene increases by Kshs.0.35 per litre,” EPRA said in a statement.

“The prices are inclusive of 8% 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.”

Due to the proposed VAT rise on fuel products from 8% to 16% in Finance Bill 2023, prices for fuel products may increase starting next month.