Consumers will benefit from a drop in fuel prices announced by the Energy and Petroleum Regulatory Authority (EPRA). Super petrol will decrease by Sh4.37 per litre. Diesel and kerosene will drop by Sh3 per litre. In Nairobi, super petrol will cost Sh176.29, diesel will be Sh165.06, and kerosene will be Sh148.39.
These new prices will be effective from December 15, 2024, to January 15, 2025. They also include the 16% VAT, in line with the Finance Act 2023 and the Tax Laws (Amendment) Act 2020. The excise duty rates have also been adjusted for inflation.
The price cut follows a global trend. Super petrol prices also dropped by 4.46%, from $641.14 per cubic metre in October to $612.53 in November. Diesel rose by 5.76%, from $608.61 to $643.69. Kerosene increased by 1.87%, from $648.15 to $660.30. In Mombasa, super petrol will retail at Sh173.05 per litre, and diesel will cost Sh161.82.
Fuel prices have a significant impact on inflation. Diesel is crucial for transport, power generation, and agriculture. Kerosene is essential for cooking and lighting in many households. This price drop follows the government’s decision not to subsidize petroleum products, thanks to lower import costs. The move also offers some relief to consumers.
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