The Energy and Petroleum Regulatory Authority (EPRA) has announced a reduction in fuel prices by Sh1 per litre that will take effect from today.
According to a statement by the energy regulator, the change applies to a litre of super petrol, diesel and kerosene.
“The prices are inclusive of the 8 per cent VAT in line with the provisions of the Finance Act 2018, the Tax Laws Act 2020 and the revised rates for excise duty adjusted for inflation as per Legal Notice No 194 of 2020,” the statement reads.
Super petrol will now retail at Sh177.30 a litre, diesel at Sh162 while kerosene at Sh145.94 with the government maintaining a Sh17.68 on the commodity.
EPRA observed that the average landed cost of imported super petrol decreased by 5.60 per cent from Sh88,520.59 per cubic meter in September to Sh83,560.89 in October while diesel decreased by 2.33 percent from Sh107,727.23 to Sh105,212.06 respectively.
Additionally, kerosene decreased by 9.08 per cent from Sh107,576.20 in September to Sh97,812.71 in October, per cubic meter.
“The Free On board (FOB) price of urban crude oil lifted in October 2022 was posted at USD 98.06 per barrel a decrease of 7.46 per cent from USD 105.96 per barrel in September 2022,” EPRA said.
The retail prices of the petroleum products will cease on December 14, 2022.
