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Relief for motorists as fuel prices drop further in Epra review

Photo credit: File | Nation Media Group

By  Ndubi Moturi

The Energy and Petroleum Regulatory Authority (Epra)  has announced a Sh4.37 reduction in the pump price of petrol per litre. In the new Epra review, diesel and kerosene prices have also dropped by Sh3 per litre.

 Super petrol will now retail at Sh176.29 in Nairobi while diesel and kerosene will sell at Sh165.06 and Sh148.39  per litre respectively.

Epra Director-General Daniel Kiptoo on Saturday said that the new prices would cover the period from December 15, 2024, to January 15,  2025.

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“In the period under review, the maximum allowed petroleum pump prices for Super Petrol, Diesel and Kerosene decrease by Sh.4.37/ litre, Sh3.00/litre and Sh3.00/litre respectively. The prices are inclusive of the 16% Value Added Tax (VAT) in line 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,” read a notice issued by EPRA.

The reduction in pump prices is attributed to the fall in prices globally by 4.46 percent from US$641.14 per cubic metre in October 2024 to US$612.53 per cubic metre in November 2024.

Diesel also increased by 5.76% from US$608.61 per cubic metre to US$643.69 per cubic metre while kerosene increased by 1.87% from US$648.15 per cubic metre to US$660.30 per cubic metre over the same period.

In Mombasa, super petrol will retail at Sh173.05 while diesel will retail at Sh161.82 per litre.

The regulator has also said that the prices are inclusive of the 16% Value Added Tax (VAT) in line with the provisions of the Finance Act 2023, the Tax Laws (Amendment) Act 2020 as well as the revised excise duty rates adjusted for inflation.

Fuel prices have a big impact on inflation as the country relies heavily on diesel for transport, power generation and agriculture, while many households use kerosene for cooking and lighting.

The fall came in a month when the government opted not to subsidise petroleum products in the wake of lower import costs.

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