Sunday, May 26, 2024

Fuel prices drop: Petrol decreases by Sh. 5.30, Diesel Sh. 10, Kerosene Sh. 18.68

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Fuel prices have dropped across the country. Starting midnight on April 15, Kenyans will buy fuel at a cheaper rates that have largely been attributed to the recovery of the Kenya shilling against the US dollar.

In the period under review, the maximum allowed petroleum pump price for Super Petrol, Diesel and Kerosene have decreased by Sh.5.31 per litre, Sh.10.00 per litre and Sh.18.68 per litre respectively.

Following this fuel drop, a litre of super petrol will now sell at Sh. 193.84 down from Sh. 199.15. A litre of diesel will sell at Sh.  180.38 down from Sh. 190.38 while a litre of kerosene will sell at Sh. 170.06 down from Sh. 188.74.

“The prices are inclusive of the 16 per cent Value Added Tax (VAT) in line with the provisions of the Finance Act 2023, the Tax Laws (Amendment) Act 2020 and the revised rates for excise duty adjusted for inflation as per Legal Notice No. 194 of 2020,” the Energy and Petroleum Regulatory Authority (EPRA) said in a statement.

In the statement, the EPRA stated that the average landed cost of imported Super Petrol increased by 4.86 per cent from US$703.49 per cubic metre in February 2024 to US$737.69 per cubic metre in March 2024.

KQ customers lose Sh. 4.26 billion in ‘unused’ tickets within one year

Diesel increased by 0.003 per cent from US$722.49 per cubic metre to US$722.51 per cubic metre while Kerosene decreased by 0.69 per cent from US$730.35 per cubic metre to US$725.31 per cubic metre.

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