Fuel prices remain unchanged in latest review
The prices of Super Petrol and Diesel remain unchanged in the latest monthly review released Saturday by the Energy and Petroleum Regulatory Authority (EPRA).
The Authority has further announced a drop in the price of kerosene by Ksh3.43 per litre.
This means that Super Petrol for the next one month will retail at Ksh188.84, Diesel at Ksh171.60 while Kerosene at Ksh158.32.
The prices are inclusive of the 16% 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.
“In accordance with Section 101(y) of the Petroleum Act 2019 and Legal Notice No. 192 of 2022, the Energy & Petroleum Regulatory Authority (EPRA) has calculated the maximum retail prices of petroleum products which will be in force from 15 th September 2024 to 14th October 2024” reads a statement by EPRA Director General Daniel Kiptoo.
Global oil prices have been on a downward trend following a decrease in the average landed cost of imported fuels.
“Average landed cost of imported Super Petrol decreased by 1.53% from US$708.47 per cubic metre in July 2024 to US$697.62 per cubic metre in August 2024; Diesel decreased by 2.95% from US$693.82 per cubic metre to US$673.36 per cubic metre while Kerosene decreased by 5.30% from US$705.74 per cubic metre to US$668.34 per cubic metre” stated Kiptoo.
Currently, Kenya imports all its petroleum product requirements in refined form and the products are traded in international markets based on a pricing benchmark
Meanwhile, EPRA has assured the public of its continued commitment to the observance of fair competition and protection of the interests of both consumers and investors in the energy and petroleum sectors.
The post Fuel prices remain unchanged in latest review first appeared on KBC.
The post Fuel prices remain unchanged in latest review appeared first on KBC.
