Relief for Kenyans after drop in fuel prices

The Energy and Petroleum Regulatory Authority has announced a new retail price for petroleum products for the next one month.

The announcement is a relief to motorists and Kenyans as they make their arrangements to travel to various destinations for December celebrations.

In the new price, super petrol has reduced by Sh1.09 per liter, diesel down by Sh2.83 while kerosene has been reduced by Sh1.75 in Nairobi.

The new prices announced will take effect from Sunday midnight and up to January 14, 2020.

Super Petrol, Diesel and Kerosene will now retail at Sh109.50, Sh101.78, and Sh102.31 respectively in Nairobi.

According to EPRA, the new price has been informed by the revised rates for the Import Declaration Fee in line with the Finance Act, 2019.

The EPRA has also calculated the maximum wholesale and retail prices of petroleum products.

The prices are also inclusive of 8 per cent VAT which is in line with the provisions of the Finance Act 2018.

The authority said that the purpose of the fuel pricing regulations is to cap the wholesale and retail prices of petroleum products in order to ensure that customers get reasonable prices.

It also said that it will continue with its commitments to ensure that both the consumers and investors in the energy sector are protected.