The Energy and Petroleum Regulatory Authority (EPRA) has reviewed downwards prices of fuel products.
In a statement, the government agency said Super Petrol prices will effective December 15 decrease by Sh5, Diesel by Sh2 and Kerosene by Sh4.01.
In Nairobi, Super Petrol, Diesel, and Kerosene will now retail 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 20220,” EPRA said in a statement.
The drop has been attributed to a reduction in the landed cost of imported petrol.
The reduced cost is as a result of a decrease in landing price by 16.11 per cent from US$827.75 per cubic metre in October 2023 to US$694.44 per cubic metre in November 2023, the authority explained.
For Diesel’s landing cost, it decreased by 5.43 per cent from US$873.42 per cubic metre to US$826.01 per cubic metre while Kerosene decreased by 6.63 per cent from US$813.90 per cubic metre to US$759.93 per cubic metre.
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