Petrol down by Ksh8.18 as EPRA announces reduction in fuel prices
The Energy and Petroleum Regulatory Authority (EPRA) has announced new fuel prices for Super Petrol, Diesel and Kerosene
The Energy and Petroleum Regulatory Authority (EPRA) has announced new fuel prices for Super Petrol, Diesel and Kerosene.
According to its monthly review report released on Monday, October 14, the price of Super Petrol per litre decreased by Ksh 8.18 while the prices of Diesel and Kerosene decreased by Ksh 3.54 and Ksh 6.93 respectively.
As such, EPRA said Super Petrol will retail at Ksh 180.66, Diesel at Ksh 168.06, and Kerosene at Ksh 151.39 in Nairobi effective midnight.
“In accordance with Section 101(y) of the Petroleum Act 2019 and Legal Notice No.192 of 2022, we have calculated the maximum retail prices of petroleum products, which will be in force from 15th October 2024 to 14th November 2024,” EPRA said in their statement.
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EPRA noted that the new prices are inclusive of the 16% VAT in line with the provisions of the Finance Act 2023, the Tax Laws (Amendment) Act 2020 & the revised rates for excise duty adjusted for inflation as per Legal Notice No. 194 of 2020.
EPRA is an independent regulatory body for the energy sector, established in 2019 under the Energy Act.
It oversees the regulation of electricity, petroleum (including upstream and downstream), and renewable energy.
EPRA’s responsibilities include licensing, economic regulation, and dispute resolution for various utilities, such as the Kenya Electricity Generating Company and the Kenya Pipeline Company.
EPRA conducts a monthly review of fuel prices, adjusting them based on various factors such as global oil prices, exchange rates, and local economic conditions.
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