In its latest monthly review, the Energy and Petroleum Regulatory Authority (EPRA) has announced that fuel prices will remain unchanged for the period from August 15 to September 14, 2024.
EPRA Director General Daniel Bargoria confirmed the decision in a statement released on Wednesday, citing the calculations for maximum retail prices of petroleum products in accordance with Section 101(y) of the Petroleum Act 2019 and Legal Notice No. 192 of 2022.
Under the new pricing structure, consumers in Nairobi will continue to pay a maximum of Ksh.188.84 per litre for super petrol, Ksh.171.60 per litre for diesel, and Ksh.161.75 per litre for kerosene.
These prices include the 16% Value Added Tax (VAT), as stipulated by the Finance Act 2023, the Tax Laws (Amendment) Act 2020, and revised excise duty rates adjusted for inflation.
Despite fluctuations in the international market, the maximum allowed retail prices for these products remain steady.
The average landed cost of imported super petrol decreased by 4.65% from US$750.95 per cubic metre in May 2024 to US$716.03 per cubic metre in June 2024.
Diesel prices dropped by 1.19%, from US$690.99 to US$682.73 per cubic metre.
However, kerosene prices saw a slight increase of 2.01%, rising from US$679.14 to US$692.80 per cubic metre.
EPRA’s decision reflects its commitment to stabilizing fuel prices amidst varying international costs and domestic tax adjustments.
