Amidst growing concerns over rising living costs, the Energy and Petroleum Regulatory Authority (EPRA) has announced a nationwide adjustment in fuel prices aimed at providing relief to consumers across Kenya. The move, effective for the next 30 days, underscores EPRA’s commitment to addressing economic challenges and supporting households amidst inflationary pressures.
Under the revised pricing structure, Super Petrol will now retail at Kshs.199.15 per litre, Diesel at Kshs.190.38 per litre, and Kerosene at Kshs.188.74 per litre. This adjustment brings a welcome reprieve for motorists, households, and businesses grappling with the impact of escalating fuel costs on their budgets and daily expenses.
In accordance with Section 101(y) of the Petroleum Act 2019 and Legal Notice No.192 of 2022, @EPRA_Ke has calculated the maximum retail prices of petroleum products, which will be in force from 𝟏𝟓𝐭𝐡 𝐌𝐚𝐫𝐜𝐡 𝟐𝟎𝟐𝟒 𝐭𝐨 𝟏𝟒𝐭𝐡 𝐀𝐩𝐫𝐢𝐥 𝟐𝟎𝟐𝟒.^DC pic.twitter.com/IuedXM0jty
— Energy and Petroleum Regulatory Authority (@EPRA_Ke) March 14, 2024
EPRA’s Director General, Daniel Kiptoo, emphasized that the new prices adhere to taxation regulations, including the 16 percent Value Added Tax (VAT). Kiptoo also highlighted the government’s efforts to subsidize diesel and kerosene prices, reflecting a commitment to cushioning consumers against the effects of market fluctuations.
The nationwide rollout of revised fuel prices comes at a crucial juncture as Kenyan households navigate economic uncertainties exacerbated by global market dynamics and inflationary pressures. EPRA’s proactive approach in adjusting fuel prices reflects its responsiveness to market conditions, ensuring fairness and affordability for consumers nationwide.
As consumers nationwide welcome the revised fuel prices, they can take solace in the government’s concerted efforts to address their needs and promote economic stability. With EPRA’s vigilant oversight and commitment to market regulation, consumers can expect continued measures to mitigate the impact of fuel price fluctuations, fostering resilience and prosperity across Kenya.