The Energy and Petroleum Regulatory Authority (EPRA) on Friday, July 14, released new fuel prices taking effect from Saturday, July 15.
In the latest review, a litre of Super Petrol will retail at Ksh194.68 – a drop of Ksh0.85 from the current Ksh195.53 price while a litre of Diesel remained at Ksh179.67.
Kerosene also recorded a reduction in price by Ksh3.96 and will retail at Ksh169.48 from the current Ksh173.44 per litre.
“Taking into account the weighted average cost of imported refined petroleum products, the changes in the maximum allowed petroleum prices in Nairobi are as follows: Super Petrol and Kerosene decrease by Ksh0.85 and Ksh3.96 per litre respectively while Diesel remains unchanged,” read the statement in part.
“EPRA has calculated the maximum retail prices of petroleum products which will be in force from July 15, 2023, to August 14, 2023, in accordance with Section 101(y) of the Petroleum Act 2019 and Legal Notice No.192 of 2022.”
The review came 14 days after an increase of ksh13 was effected on Petrol on June 31 following the 16 Per cent VAT on fuel products included in the Finance Act.
EPRA increased the prices of fuel despite the High Court suspending the Finance Act 2023.
The authority’s latest move will, therefore, offer some reprieve to motorists who use Super Petrol.
However, Diesel users such as some Public Service Vehicles (PSVs) motorists will continue to dig deep into their pockets to fuel their automobiles.
Transport stakeholders are yet to give direction on whether fares will change with the new development. Nonetheless, it is highly unlikely given that the reduction in petrol prices only accounts for 0.04 per cent.
On July 1, Matatu Owners Association increased fares by 30 per cent after fuel Prices were increased by ksh.13
The association explained that they also considered other factors such as the expected increase in spare part prices among others.