The Energy and Petroleum Regulatory Authority (EPRA) has reduced fuel prices by Ksh 1 in the latest monthly review.
The price change applies to petrol, diesel, and kerosene. This is after the reduced landed price of super petrol was used to subsidize diesel while the government tapped Ksh17.68 from the petroleum development levy to subsidize kerosene.
A liter of super petrol will now retail at Ksh 177.30 while diesel and kerosene will retail at Ksh 162 and Ksh 145.94 respectively.
“The Government will utilize the Petroleum Development Levy (PDL) to compensate oil marketing companies for the difference in cost,” said EPRA.
“The prices are inclusive of the 8 percent VAT in line with the provisions of the Finance Act 2018, the Tax Laws Act 2020 and the revised rates for excise duty adjusted for inflation as per Legal Notice No 194 of 2022,” EPRA said in a statement.
In the latest review, the average landed cost of imported super petrol decreased by 5.60 percent from 726.77 (US Dollars) in September to 686.05 (US Dollars) in October.
A cubic meter of diesel decreased by 2.33 percent from 884.46 (US Dollars) in September to 863.81 (US Dollars) in October while Kerosene decreased by 9.08 percent from 883.22 (US Dollars) in September to 803.06 (US Dollars) in October per cubic meter.
In Mombasa, a liter of petrol will retail at Sh174.98, diesel at Sh159.76 and kerosene at Sh143.69. For Kisumu, a liter of petrol will retail at Sh177.50, diesel at Sh162.70 and kerosene at Sh146.66.