The Energy Petroleum and Regulatory Authority (EPRA) on Thursday December 14, reduced fuel prices for the period between December 15 this year and January 14, 2023.
In the latest review petrol decreased by Ksh5, diesel by Ksh2, and kerosene by Ksh4.01.
Nairobi residents will pay Ksh212.36 for petrol, Ksh201.47 for diesel, and Ksh199.05 for Kerosene per litre.
“The prices are inclusive of the 16 per cent 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,” EPRA announced.
The decrease comes after pressure from various leaders including Raila Amollo Odinga.
Raila had asked Ruto to lower the product by Ksh50.
The reduction also followed a global drop in oil prices and the landing cost.
The landing cost of imported petrol decreased by 16.11 per cent in November, Diesel by 5.43 per cent, and kerosene by 6.63 per cent.
“The price of diesel has been cross-subsidized with that of super petrol to further cushion the economy, the government has opted to stabilise the resultant diesel price. Government through the National Treasury has identified resources within the current resource envelope to compensate Oil Marketing Companies,” EPRA announced.
