Fuel prices reduced by Sh10 in latest EPRA monthly review

Fuel Prices reduced in the latest EPRA monthly review.[File, Standard]

The Energy and Petroleum Regulatory Authority (EPRA) has announced a reduction in fuel prices effective April 14 at midnight.

In its latest review, EPRA says Super Petrol, Diesel and Kerosene prices will go down by Sh5.30, Sh10.00 and Sh18.68 per litre respectively.

This means the products will retail at Sh193.84, Sh180.38 and Sh170.06 for the next one month.

“In the period under review, the maximum allowed petroleum pump price for Super Petrol, Diesel and Kerosene decrease by KShs.5.31 per litre, KShs.10.00 per litre and KShs.18.68 per litre respectively,” EPRA has posted on its official X page.

“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,”.

However, the reason for the reduction in fuel prices is not yet clear.

Hours before EPRA made the announcement, President William Ruto had told Kenyans to prepare for a "massive reduction" in the cost of living and hinted that fuel prices to go down by Sh10 in this month's EPRA fuel prices review.

“Today maize flour was nearing Ksh.200 its now close to Ksh.100. The dollar was Ksh.160 now it's a hundred and twenty-something and still not done. Oil prices as you have seen have dropped with Ksh.10 today," he said at a church service in Nyeri.

On Sunday morning Government spokesperson Isaac Mwaura had also shared news of the reduction of fuel prices.

He said the changes were a sign that the Kenya Kwanza Government was committed to keeping its promise to the people on service delivery and better living standards.

“A major announcement on the reduction of fuel prices shall be made today at 3:00 pm by the Energy and Petroleum

Regulatory Agency (EPRA)! This will go a long way in reducing the cost of living in the country for hustlers and Kenyans at large!” Mwaura tweeted.