The Energy and Petroleum Regulatory Authority (EPRA) has announced new fuel prices that will be effective for the next 30 days. This adjustment brings a reduction in the pump costs for petrol, diesel, and kerosene, offering some relief to consumers.
EPRA has confirmed that the new prices include the 16% Value Added Tax (VAT) as mandated by the Finance Act 2023. The revised pricing structure aims to reflect current global oil prices and local economic conditions.
New Fuel Prices in Nairobi
- Super Petrol: KSh 189.84 per liter
- Diesel: KSh 173.10 per liter
- Kerosene: KSh 163.05 per liter
These new prices represent a decrease from the previous rates, marking a positive development for motorists and households relying on these fuels. The adjustment is expected to ease the cost of transportation and other fuel-dependent activities across the country.
Implications of the New Fuel Prices
- Economic Relief: The reduction in fuel prices is likely to reduce the overall cost of living, as lower fuel costs can translate to decreased expenses in various sectors, including transportation, manufacturing, and agriculture.
- Transport Sector: Public and private transport operators will benefit from the reduced costs, potentially leading to lower fares for passengers and reduced operating costs for logistics companies.
- Household Budgets: Families using kerosene for cooking and lighting will experience lower energy expenses, providing some financial relief to low-income households.
- Inflation Control: Lower fuel prices can help stabilize inflation rates by reducing the cost of goods and services, which are often impacted by fuel costs.
EPRA continues to monitor international crude oil prices and currency exchange rates to ensure that fuel prices in Kenya are fair and reflective of market conditions. The authority remains committed to protecting consumers from excessive fuel costs while ensuring the sustainability of the energy sector.
Consumers are encouraged to take advantage of the current price reductions and plan their fuel purchases accordingly. EPRA’s regular review and adjustment of fuel prices demonstrate its role in balancing economic factors and consumer interests in the energy market.
