By Marline Atieno
The Energy and Petroleum Regulatory Authority (EPRA) has made a significant move by reducing fuel prices across the board that will take effect from midnight of June 14 to July 14 2024.
In the most recent update revealed on Friday, June 14, EPRA lowered the cost of Super Petrol by Ksh3.
Diesel prices saw a decrease of Ksh6.08, while Kerosene prices dropped by Ksh5.71.
After the review, Super Petrol prices in Nairobi will be Ksh189.84 per litre. Diesel and Kerosene will be available at Ksh173.10 and Ksh163.05 per litre, respectively.
EPRA cited favourable global oil market trends as a factor influencing the downward adjustment in fuel prices.
EPRA also attributed the reduction in fuel prices to a decrease in the landing cost and the stabilization of the shilling against the dollar.
“During May 2024, the average landed cost of imported Super Petrol decreased by 1.95 percent, from US$765.87 per cubic meter in April 2024 to US$750.95 per cubic meter,” EPRA explained.
“For Diesel, there was a 3.92 percent decrease from US$719.21 per cubic meter to US$690.99 per cubic meter and for Kerosene, a 6.84 percent decrease from US$728.97 per cubic meter to US$679.14 per cubic meter.”
In Mombasa, the prices were set at Ksh186.66 for Super Petrol, Ksh169.13 for Diesel and Ksh160 for kerosene.
Kenyan motorists and transport operators have welcomed the news, expressing relief over the anticipated reduction in their monthly fuel expenditures.
Meanwhile, drivers in Kisumu will be buying Super Petrol at Ksh189.66 per litre and Diesel at Ksh173.31 per litre.
A litre of Kerosene in the lakeside city will be priced at Ksh163.34 for the next 30 days.
While EPRA’s reduction in fuel prices is welcomed, stakeholders are encouraged to monitor global oil market trends and domestic economic conditions to anticipate any future adjustments in fuel pricing.