EPRA issues new fuel prices for the month of May & June

• EPRA announced changes to maximum retail petrol prices in Kenya
• Changes based on global benchmarks and landed costs of imported petroleum products
• EPRA assures commitment to fair competition and protection of consumer and investor interests

Effective from May 15 to June 14 2024, there will be slight decreases in the costs of Super Petrol, Diesel, and Kerosene.

According to the latest press release from EPRA, consumers can expect a reduction in the pump prices with Super Petrol down by Sh1.00 per litre, Diesel by Sh1.20 per litre, and Kerosene by Sh1.30 per litre.

This means that in Nairobi, Super Petrol will retail at Sh192.84 per litre, Diesel Sh179.18 and Kerosene 168.76.

These changes include the 16% Value Added Tax (VAT) as adjusted for inflation in accordance with the Finance Act 2023 and Tax Laws (Amendment) Act 2020.

The authority explained that the average landed cost of imported Super Petrol increased by 3.82% to US$765.87 per cubic metre in April 2024 from US$737.69 in March 2024.

However, the costs for Diesel saw a slight decline by 0.46%, and Kerosene costs rose marginally by 0.50%.

These variations in landed costs directly impact the retail prices that consumers pay at the pump.

EPRA has based its pricing on global benchmarks, specifically referencing the trends provided by S&P Global Platts.

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The trading of petroleum products in USD and the fluctuating USD-KShs exchange rate further influence these prices, which are crucial for calculating the final retail prices in Kenya.

The purpose of the Petroleum Pricing Regulations is to cap the retail prices of petroleum products which are already in the country so that importation and other prudently incurred costs are recovered while ensuring reasonable prices to consumers.

"EPRA wishes to assure 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," EPRA Director General Daniel Kiptoo said.

Many Kenyans have brushed of the Sh1 decrease in fuel prices as insignificant while others defend that the move is welcome.

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