The Energy and Petroleum Regulatory Authority (EPRA) has announced March fuel prices that will take effect for the next one month starting today.
In the latest review announced on Thursday, March 14, EPRA reduced Super Petrol Fuel prices by Ksh7.21. Diesel was reduced by Ksh5.09 and Kerosene by Ksh4.49.
“In the period under review, the maximum allowed petroleum pump price for Super Petrol, Diesel and Kerosene decreases by Ksh7.21 per litre, Ksh5.09 per litre and Ksh4.49 per litre respectively.”
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This becomes the first major reduction in fuel prices in the month of March since the onset of the fuel purge that has seen prices increase expeditiously.
In Nairobi, Super Petrol, Diesel and Kerosene will now retail at Ksh199.15, Ksh190.38 and Ksh188.74 effective midnight which are inclusive of VAT and in line with the Finance Act 2023.
In Mombasa, a litre of Petrol will retail at Ksh195.97 while Kerosene will retail at Ksh187.21. Mombasa residents will purchase a litre of Kerosene for the next one month at Ksh185.58.
Kisumu, motorists will purchase Super Petrol at Ksh198.97 and Diesel at Ksh190.59. EPRA capped the price of Kerosene at Ksh188.96.
Nakuru and Eldoret, motorists will purchase a litre of Super Petrol at Ksh198.21 and Ksh198.98 respectively. Diesel in the two urban centres will be purchased at Ksh189.82 (Nakuru) and Ksh190.59 (Eldoret).
“The prices are inclusive of the 16% 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.”
According to EPRA, these retail prices of petroleum products, which will be in force from 𝟏𝟓𝐭𝐡 𝐌𝐚𝐫𝐜𝐡 𝟐𝟎𝟐𝟒 𝐭𝐨 𝟏𝟒𝐭𝐡 𝐀𝐩𝐫𝐢𝐥 𝟐𝟎𝟐𝟒 when the next review will be done to determine the next month’s fuel prices.
This comes after President William Ruto promised revealed that he is working to ensure even much lower fuel prices moving forward as he has already stabilised the economy for the better.
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“I want to tell you that even fuel prices will go down so relax. Today is March 14 and we will get new low fuel prices,” said the President as he was commissioning Kapsuser-Sosiot Road in Belgut, Kericho County.
Kenyans have now a reason to smile as the new prices take effect starting midnight today for the next one month.