The Energy & Petroleum Regulatory Authority (EPRA) has announced the maximum retail prices of petroleum products in Kenya for the period from 15th January 2024 to 14th February 2024.
According to EPRA, the maximum allowed pump prices for Super Petrol, Diesel, and Kerosene have decreased.
However,Super Petrol and Diesel prices have decreased with KSh. 5.00 per litre, while Kerosene prices have decreased with KSh. 4.82 per litre.
These prices include the 16 per cent Value Added Tax (VAT) and are in line with the provisions of the Finance Act 2023 and the Tax Laws (Amendment) Act 2020.
The prices also take into account the revised rates for excise duty adjusted for inflation as per Legal Notice No. 194 of 2020.
Additionally,the decrease in prices can be attributed to the decrease in the average landed cost of imported petroleum products.
In December 2023,
The average landed cost of Super Petrol decreased by 2.40 Pc Diesel decreased with 9.06 Pc and Kerosene decreased with 4.33 Pc compared to November 2023.
EPRA is certified under ISO 9001:2015.
EPRA states that the country imports all its petroleum products as refined products and trades them in international markets-
based on a pricing benchmark provided by S&P Global Platts.
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Therefore,the trade of petroleum products in international markets is denominated in USD,
and an exchange rate is applied to convert USD to KSh for local pump prices.
Consequently,EPRA assures the public of its commitment to fair competition and protection of the interests of consumers and investors.
