Aston Lukoye
Summary:
- The Energy and Petroleum Regulatory Authority (EPRA) has announced fuel price reductions, effective from Monday, October 14.
- Super Petrol saw the largest decrease, dropping by Ksh8.18 to Ksh180.66 per liter, with Diesel and Kerosene also experiencing price cuts.
The Energy and Petroleum Regulatory Authority (EPRA) has announced a new fuel price update that takes effect from Monday, October 14, 2024. The latest adjustment brings relief to consumers with price reductions for Super Petrol, Diesel, and Kerosene.
Super Petrol saw the most significant price cut, decreasing by Ksh8.18, bringing the new price to Ksh180.66 per liter, down from Ksh188.84. Diesel prices also experienced a reduction, falling by Ksh3.54, from Ksh171.60 to Ksh168.06. Kerosene saw a smaller but still notable drop of Ksh6.93, bringing the price down to Ksh151.39 per liter from the previous Ksh158.32.
These reductions are inclusive of the 16% Value Added Tax (VAT) as required by the Finance Act 2023 and the Tax Laws Amendment Act of 2020. The adjustments come at a time when the Kenyan shilling has remained relatively stable, trading between 128.50 and 129.50 against the US dollar. This stability in exchange rates contributed to the anticipated reduction in fuel prices.
The latest fuel price cuts by EPRA provide some much-needed relief to consumers as global and local factors influence the market. With a stable exchange rate supporting the reductions, Kenyans can expect a reprieve at the pump as these prices take effect.
