EPRA Announces Fuel Price Cuts Across Kenya

The Energy and Petroleum Regulatory Authority (EPRA) has released revised fuel prices for the period of April 15th to May 14th, 2024.

This welcome news comes after a period of high fuel costs that burdened motorists across Kenya. The new prices reflect a decrease in the cost of Super Petrol, Diesel, and Kerosene. Super Petrol will see a reduction of Sh5.31 per litre, bringing the price down to Sh193.84 in Nairobi. Diesel prices will decrease by Sh10.00 per litre with motorists paying Sh180.38 in Nairobi. Kerosene prices have seen the most significant drop falling by Sh18.68 per litre to Sh170.06 in the Kenyan capital.

These prices are inclusive of the 16% Value Added Tax (VAT) and account for adjusted excise duty rates. Price variations exist across different Kenyan cities. Mombasa, Nakuru, Eldoret, and Kisumu will see similar price reductions with some minor regional variations. However, certain remote areas like Nakalale, Lokichogio, and Marsabit will continue to experience fuel prices exceeding Sh200 per litre. The decrease in fuel prices comes despite a slight increase in the cost of imported Super Petrol.

EPRA Director General Daniel Kiptoo explains that the landed cost of Super Petrol rose by 4.86% in March compared to February 2024. Conversely, Diesel prices remained relatively stable and Kerosene prices even experienced a slight decrease. This revised pricing structure aligns with President William Ruto's earlier announcement of a Sh10 reduction in fuel prices. EPRA remains committed to ensuring fair competition within the energy sector and protecting the interests of both consumers and investors. This move aims to provide some relief to Kenyan motorists grappling with the recent high fuel costs.

Meanwhile, President William Ruto's address to the congregation at ACK St Peter's Cathedral in Nyeri on Sunday morning struck an optimistic tone about Kenya's economic prospects. In his remarks, the President voiced the tangible improvements witnessed in recent times, attributing them to the government's commitment to implementing prudent policies even if they may not always be popular. President Ruto touted the reduction in the cost of essential commodities with maize flour prices nearly halving from Sh200 to around Sh100.

According to his statement, this development is particularly noteworthy considering the dire impact of high food prices on the most vulnerable segments of the population. The President also drew attention to the strengthening of the Kenyan shilling against the US dollar.