The Energy and Petroleum Regulatory Authority (EPRA) announced that fuel prices in Kenya will drop by about Sh 19 per litre, which is the biggest drop in over a decade. This is attributed to the collapse in international crude oil prices.
According to a statement from the regulator, the price of petrol decreased by Sh9.54 per litre while that of Diesel dropped by Sh19.19 per litre. Kerosene prices however, increased by Sh2.49 per litre.
In the statement released on Thursday, EPRA said “No kerosene cargo was discharged at the port of Mombasa between April 10 and May 9 2020 and therefore the prevailing kerosene price has been maintained but with adjustments in VAT calculations”.
This means that, starting midnight of Thursday 14th May,2020 until the next review, super petrol will be sold at a retail price of Sh83.33 per litre, while diesel and kerosene will be sold at Sh78.37 and Sh79.77 per litre respectively in Nairobi.
In Mombasa, petrol will be sold for Sh80.85, while diesel will be sold at Sh75.88 and kerosene at Sh77.29.
In Kisumu, petrol will retail at Sh84.19 per litre, diesel will sell at Sh79.37 per letter and Kerosene will be sold at Sh80.77 per litre
The price dip comes shortly after the Energy regulator, through its director-general Pavel Oimeke, rejected a petition by oil marketers to be excluded from the cheaper fuel in this month’s review; saying that the request made by the oil marketing companies was against the law and regulations and hence they will not implement it.
The fuel prices would have dropped further if it were not for new levies such as road maintenance, railway development and regulatory fees which were imposed on fuel following recent amendments to the related laws.
The drop in pump prices is expected to result in lower cost of living, including a drop in the cost of electricity since the price of diesel is factored in calculating electricity prices in Kenya.
The new fuel prices come into effect on Thursday 14th May, 2020 at midnight until 14th June, 2020 midnight.