Relief to Kenyans as Diesel and Kerosene Prices Drop
Energy and Petroleum Regulatory Authority (EPRA) has announced a new cut in the costs of diesel and Kerosene. Super Petrol will cost a maximum of Ksh217 per gallon across the country for the next calendar month.
Diesel and kerosene prices in Nairobi have dropped by Ksh.2 per liter, bringing them down to Ksh.203.47 and Ksh.203.06 respectively, which is good news for customers.
According to a statement released by EPRA, these costs already include the 16% VAT required by the Finance Act 2023, the Tax Laws (Amendment) Act 2020, and the new rates for excise duty adjusted for inflation as per Legal Notice No. 194 of 2020.
The price hikes are a result of a 2.81% increase in the average landed cost of imported Super Petrol, which stands at US$827.75 per cubic meter in October 2023, compared to US$805.14 in September 2023.
The price of Diesel went up by 3.28 percent, from $845.72 to $873.42 per cubic meter, while the price of kerosene fell by 6.31%, from $868.70 to $813.90.
Government intervention has stabilized pump prices for the November 2023–December 2023 pricing cycle, protecting customers from the impact of rising pump prices due to increased landed costs.
According to EPRA, the National Treasury has budgeted for Oil Marketing Company compensation from existing funds.
EPRA further revealed that without this intervention, the going rate for Super Petrol would have been Ksh.229.37, Diesel would have cost Ksh.223.29, and Kerosene would have cost Ksh.206.70.
This is indeed a great relief to Kenyans because people have been complaining about the cost of fuel because it affects everything and it dictates the economy in a great way.
