The Energy Petroleum Regulator Authority (EPRA) has announced a drop in the prices of Super Petrol, Diesel, and Kerosene by sh.1 in its latest monthly price review.
The new prices for Super Petrol, Diesel, and Kerosene are now sh.206.36, sh.195.47, and sh.193.23, respectively, as stated in a recent announcement.
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This reduction in fuel prices comes as a result of a decrease in the landed costs of Super Petrol, Diesel, and Kerosene.
EPRA mentioned that the average landed cost of imported Super Petrol fell by 1.71% from US$677.78 per cubic meter in December 2023 to US$666.16 per cubic meter in January 2024.
Similarly, Diesel saw a decrease of 3.08%, from US$751.15 per cubic meter to US$728.03 per cubic meter, and Kerosene decreased by 1.17%, from US$727.00 per cubic meter to US$718.51 per cubic meter.
In the period under review, the maximum allowed petroleum pump price for Super Petrol, Diesel and Kerosene decrease by Kshs.1.00 per litre respectively.
In Nairobi, Super Petrol, Diesel and Kerosene will now retail at Kshs.206.36, 195.47 & 193.23 effective midnight for the next… pic.twitter.com/flFOw596qG
— Energy and Petroleum Regulatory Authority (@EPRA_Ke) February 14, 2024
EPRA clarified that the price of diesel has been adjusted in relation to super petrol, and the price of kerosene has been stabilized completely.
Additionally, Oil Marketing Companies (OMCs) will receive compensation for under-recovery of costs from the Petroleum Development Levy (PDL) Fund, as per EPRA’s statement.