The Energy and Petroleum Regulatory Authority (EPRA) has announced lower Fuel Prices for Kenyan Consumers in it's monthly review. Additionally, the Regulator, has increased Electricity prices.
In its monthly review report released on Saturday, December 14, EPRA announced that Super Petrol prices reduce by Ksh 4.37 Per litre while Diesel and Kerosene prices reduce by Ksh 3.00 each per litre.
“In accordance with Section 101(y) of the Petroleum Act 2019 and Legal Notice No.192 of 2022, the Energy & Petroleum Regulatory Authority (EPRA) has calculated the maximum retail prices of petroleum products which will be in force from 15th December 2024 to 14th January 2025,” read the statement in part.
“In the period under review, the maximum allowed petroleum pump prices for Super Petrol, Diesel, and Kerosene decreased by Ksh 4.37 per litre, Ksh 3.00 per litre, and Ksh 3.00 per litre, respectively.” it added.
In Nairobi, Super Petrol will now retail at Ksh 179.29 while Diesel, and Kerosene will retail at Ksh 165.06, and Ksh 148.39, respectively, effective midnight, for the next 30 days.
Meanwhile, in Mombasa, Super Petrol will retail at Ksh 173.05 per litre, Diesel at Ksh 161.82 per litre, and Kerosene (IK) at Ksh 145.15 per litre.
Additionally, EPRA has increased electricity prices, adding Sh1.35 per kWh as a water levy, effective December 14, 2024.
Domestic consumers using over 100 kWh monthly will now pay from Ksh 28.57 to Ksh 29.92 per kWh starting this December.
The regulatory authority announced that 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.
"The purpose of the Petroleum Pricing Regulations is to cap the retail prices of petroleum products which are already in the country so that importation and other prudently incurred costs are recovered while ensuring reasonable prices to consumers,” the statement read further.
“EPRA wishes to assure the public of its continued commitment to the observance of fair competition and protection of the interests of both consumers and investors in the energy and petroleum sectors.”
The average landed cost of imported Super Petrol decreased by 4.46% from US$641.14 per cubic metre in October 2024 to US$612.53 per cubic metre in November 2024.
Diesel increased by 5.76% from US$608.61 per cubic metre to US$643.69 per cubic metre while Kerosene increased by 1.87% from US$648.15 per cubic metre to US$660.30 per cubic metre over the same period.
EPRA mentioned that currently, Kenya imports all its petroleum product requirements in refined form and the products are traded in international markets based on a pricing benchmark.
Further, the trade of petroleum products in the international markets is denominated in United States Dollars (USD), and an exchange rate is applied to convert the USD to KShs during the computation of local pump prices.