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Relief for Kenyans as super petrol price drops by Sh7

A worker fills the tank of a motorcycle at a petrol station in Nairobi on May 17, 2023. (Photo: Simon Maina/ AFP)

By Lucy Mumbi | Thursday, March 14, 2024

Super petrol's price dropped by Sh7.21, diesel by Sh5.09, and kerosene by Sh4.49, EPRA announced in its latest monthly review.

The prices of a litre of super petrol, diesel, and kerosene have all dropped in the latest monthly review by the Energy and Petroleum Regulatory Authority (EPRA), bringing Kenyans much-needed relief.

Super petrol's price dropped by Sh7.21, diesel by Sh5.09, and kerosene by Sh4.49, EPRA announced, placing the commodities' prices in Nairobi at Sh199.15, Sh190.38, and Sh188.74 per litre, respectively.

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The new prices, effective midnight and in place for 30 days, 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.

In February, a litre of petrol retailed at Sh206.36, diesel at Sh195.47, and kerosene at Sh193.23 in Nairobi.

In Mombasa, super petrol will cost Sh195.97 a litre, diesel at Sh187.21, and kerosene at Sh185.58, while in Nakuru, Kenyans will pay Sh198.21, Sh189.82, and Sh188.21, respectively, for the commodities.

In Eldoret, Uasin Gishu County, the three products will retail at Sh198.98, Sh190.59, and Sh188.98, respectively, while in Garissa, a litre of super petrol will cost Sh203.62, diesel Sh194.86, and kerosene Sh193.22.

Isiolo residents will buy a litre of super petrol for Sh202.32, diesel for Sh193.55, and kerosene for Sh191.91, while Wajir residents will pay Sh209.09, Sh200.33, and Sh198.70 for a litre of the three commodities, respectively.

In Mandera, the three will retail at Sh213.15, Sh204.38, and Sh202.75, respectively.

The price drop comes after President William Ruto hinted that Kenyans would pay less for fuel, while on a tour of Kericho County on Thursday.

Ruto said many aspects of the economy were looking better, including the Kenya shilling's rate against the dollar, which was Sh138 as of Thursday, according to the Central Bank.

"I told you to give me a chance to improve this economy. It had gone into the trenches, but I have now removed it from the trenches," he said.

"The dollar, as you can see, is starting to get better, and today it will be announced that fuel matters have started to straighten up. We want to ensure Kenya moves forward without the risk of debt issues. We must be careful as a nation," he said.

EPRA explained that the average landed cost of imported super petrol had increased by 5.60 per cent, from $666.16 per cubic metre in January 2024, to $703.49 in February.

Diesel's landed cost decreased by 0.76 per cent, from $728.23 to $722.49, while kerosene's increased by 1.65 per cent, from $718.51 to $730.35.

The landed cost factors in a product's original price, both inland and ocean transport fees, taxes, tariffs, customs, duties, insurance, currency conversions, the cost of crating, handling, and payment fees.

The country imports all its petroleum product requirements in refined form, and the products are traded in international markets based on a pricing benchmark provided by S&P Global Platts.