EPRA Announces October Fuel Prices, Petrol Drops by Ksh 8

The Energy and Petroleum Regulatory Authority (EPRA) on Monday, October 14, offered a contemporary improve on charges of extraordinarily gasoline, kerosene and diesel in its most up-to-date testimonial.

The best adjustment noticed Super Petrol lower by Ksh 8.18 from Ksh 188.84 to Ksh 180.66. Diesel price decreased by Ksh 3.54, going from Ksh 171.6 to Ksh 168.06.

Meanwhile, kerosene likewise skilled a gentle lower, going from Ksh 158.32 to Ksh 151.39.

According to the ability regulatory authority, the charges had been complete of the 16 % Value Added Tax (BARREL) in accordance with the preparations of the Finance Act 2023, and the Tax Laws Amendment Act of 2020.

EPRA moreover revealed a big decline within the landed expense of imported Super Petrol which diminished by a considerable 8.59%, going from Ksh 90,013.91 (USD697.62) per cubic metre in August to Ksh 82,282.43 (USD637.70) per cubic metre in September 2024.

The landed expense of Diesel likewise decreased by 5.52%, going from KSh 86,883 (USD673.36) per cubic metre. to KSh 82,091.47 (USD636.22) per cubic metre.

There was an assumption that fuel charges will surely go down, significantly as a result of the Kenyan shilling has truly been holding its very personal versus the United States buck. According to the present forex alternate fee the shilling traded at 128.50/ 129.50 versus the buck, which coincided worth as from final Friday, in line with data from the London Stock Exchange Group.

In the final testimonial (September), fuel prices remained the same regardless of an enhancing shilling and a global lower in oil want.

The diminished fuel charges likewise got here days after the Central Bank of Kenya revealed a global increase in oil prices within the just lately ending October 9, with an increase wanted paired with enhanced stress within the Middle East as essential parts driving charges up.

Last week, the expense of Murban oil leapt to USD 78.62 on October 9, up from USD 76.54 merely every week beforehand, triggering worries that the spike in charges will surely surge proper into fuel charges within the brand-new testimonial.