The prices of fuel have been reduced by Ksh1 in the latest review by Energy and Petroleum Regulatory Authority (EPRA).
In a statement on November 14, EPRA said a litre of Super Petrol in Nairobi will retail at 177.30 while Diesel and Kerosene will retail at 162.00 and 145.94 per litre respectively.
EPRA attributed the Ksh1 price reduction to reduced landing costs.
“The average landed cost of imported Super Petrol decreased by 5.60% from US$726.77 per cubic metre in September 2022 to US$686.05 per cubic metre in October 2022; Diesel decreased by 2.33% from US$884.46 per cubic metre to US$863.81 per cubic metre while Kerosene decreased by 9.08% from US$883.22 per cubic metre to US$803.06 per cubic metre,” EPRA said.
The authority said the Ksh17.68 per litre subsidy on Kerosene has been maintained to cushion consumers from the otherwise high prices.
“The Government will utilise the Petroleum Development Levy (PDL) to compensate oil marketing companies for the difference in cost,” EPRA added.
The Free Onboard (FOB) price of Murban crude oil lifted in October 2022 was posted at US$ 98.06 per barrel a decrease of 7.46% from US$ 105.96 per barrel in September 2022.
Over the same period, the mean monthly US Dollar to Kenya Shilling exchange rate depreciated by 0.15% from Kshs.123.88 per US$ in September 2022 to Kshs.124.06 per US$ in October 2022.
The retail price for a litre of Super Petrol in Nairobi was Ksh178.30, Diesel Ksh163 and kerosene retailed at Ksh146.94.
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