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The Energy and Petroleum Regulatory Authority (EPRA) has released the latest adjustments to the maximum retail prices of petroleum products in accordance with Section 101(y) of the Petroleum Act 2019 and Legal Notice No.192 of 2022.
According to a statement by EPRA, these new prices will be in effect from December 15, 2023, to January 14, 2024.
In the current review period, EPRA has determined the maximum allowed petroleum pump prices for Super Petrol, Diesel, and Kerosene. The new prices reflect a drop of Sh5 Sh2, and Sh4 per litre, respectively.
Super Petrol will now retail at Sh212.36 per litre, Diesel at Sh201.47 per litre, and Kerosene at Sh199.05 per litre. These prices will remain in force for the next 30 days.
The adjustments come in the wake of fluctuations in global oil prices and changes in the exchange rate, factors that directly impact the cost of importing petroleum products into the country.
EPRA, in its role as the regulatory authority, regularly reviews and updates these prices to ensure fairness and transparency in the energy market.
Consumers are advised to take note of these changes and plan accordingly for their fuel-related expenses over the next month.
The drop in fuel prices is particularly welcomed as it translates into reduced transportation costs, making travel more affordable for those visiting loved ones during the holiday season.
Additionally, the lower prices will contribute to the overall cost of living, providing some financial relief for households during this festive period.