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The Energy and Petroleum Regulatory Authority (EPRA) on has announced ne fuel prices that will run for the next one month until October 14 when new ones will be announced.
EPRA on Saturday announced that the prices of Super Petrol and Diesel will remain unchanged.
Super Petrol will retail at Sh188.84 and Diesel at Sh171.60 per litre.
The price of Kerosene dropped by Sh3.43 per litre to retail at Sh158.32 per litre.
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Prices inclusive of 16%VAT
These prices are inclusive of the 16 per cent Value Added Tax (VAT).
EPRA further noted that the pricing is in line with Finance Act 2023 that is in effect as well as the Tax Laws Amendment Act of 2020.
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EPRA Director General Daniel Kiptoo
"Currently, Kenya imports all its petroleum product requirements in refined form and the products are traded in international markets based on a pricing benchmark," EPRA stated.
"Further, the trade of petroleum products in the international markets is denominated in United States Dollars and an exchange rate is applied to convert the US Dollar to Kenya Shilling during the computation of local pump prices."
Reduction in oil prices globally
Globally, oil prices decreased by a slim margin, raising hopes that the same will be reflected in the new prices of fuel in the country.
Central Bank of Kenya noted in its weekly bulletin on Friday, September 13, that the decrease was attributed to a decline in demand of oil globally.
“The Murban oil price declined to USD 72.34 per barrel on September 12 from USD 72.99 per barrel on September 5,” read the report in part.