The cost of petrol, diesel, and kerosene will see a reduction of Sh1 per liter on Thursday as announced by the Energy and Petroleum Regulatory Authority (EPRA).
In Nairobi, one liter of petrol will now retail at Sh206.36, down from the previous price of Sh207.36.
The revised prices also indicate that a liter of diesel will be priced at Sh195.47, while kerosene will cost Sh193.23 per liter.
EPRA’s decision to slash prices follows a decline in the average landed cost of imported super petrol by 1.71 percent, dropping from $677.78 per cubic meter in December last year to $666.16 last month. Similarly, diesel decreased by 3.08 percent to $728.03, and kerosene saw a 1.17 percent drop to $718.51.
“In the period under review, the maximum allowed petroleum pump price for Super Petrol, Diesel, and Kerosene decreased by KShs 1.00 per liter, respectively,” stated EPRA.
These prices include the 16% Value Added Tax (VAT) in compliance with 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.
For the second consecutive month, fuel prices have been on the decline, attributed to the global economic slowdown, leading to reduced demand.