The price of Super Petrol in Nairobi has dropped by Ksh 2.86 per litre while that of Diesel went down by Ksh 3.28 per litre, according to the latest schedule by the Energy and Petroleum Regulatory Authority (EPRA).
The retail pump prices of petroleum products, which will be in force from 15th August to 14th September 2019, will also see the price of Kerosene drop by Ksh 1.98 per litre.
“The pump prices are inclusive of 8% Value Added Tax (VAT) in line with the provisions of the Finance Act 2018 and the revised rates for excise duty adjusted for inflation as per Legal Notice No. 109 of 9th July 2019,” EPRA Director General Pavel Oimeke said in a statement.
It added that the changes in this month’s prices have been as a consequence of the average landed cost of imported Super Petrol decreasing by 5.64% from US$ 528.26 per cubic metre in June 2019 to US$ 498.46 per cubic metre in July 2019; Diesel decreasing by 7.11% from US$ 519.39 per cubic metre to US$ 482.47 per cubic metre and Kerosene increasing by 1.88% from US$ 503.63 per cubic metre to US$ 513.10 per cubic metre.
The move will see the price of Super Petrol sell for Ksh 112.53 per litre in Nairobi, Diesel 100.60 and Kerosene Ksh 103.95.
In Mombasa, Super Petrol will sell for Ksh 109.89, Diesel (Ksh 97.97) and Kerosene (Ksh 101.32) while in Nakuru, it will cost Ksh 113.01, Diesel (Ksh 101.31) and Kerosene (Ksh 104.65). In Kisumu, Super Petrol will sell for Ksh 11.01, Diesel (Ksh 102.29) and Kerosene (Ksh 105.64).
In Eldoret, Super Petrol will sell for Ksh 114.02, Diesel (Ksh 102.30) and Kerosene (Ksh 105.65).
Last month, the price of Super Petrol increased by Ksh 0.29 while Diesel and Kerosene decreased by Ksh 0.88 and Ksh 2.31 per litre.
The increase saw motorists in Nairobi purchase Super Petrol at Ksh 115.39 with Diesel retailing at Ksh 103.88 and Kerosene at Ksh 101.97 per litre.
In Nakuru, Super petrol sold for Ksh 115.86, Diesel at Ksh 104.58 and kerosene at Ksh 102.69.
In Mombasa, Super Petrol has been retailing at Ksh 112.74, Diesel at Ksh 101.25 and kerosene at Ksh 99.35 per litre.
Oimeke said the changes were as a consequence of the average landed cost of imported Super Petrol decreasing by 1.83 per cent from Ksh 55,469.46 (USD538.8) per cubic metre in May 2019 to Ksh 54,384.37 (USD528.26).
Last year, fuel prices adopted an upward trajectory after President Uhuru Kenyatta forced through the Finance Act, which imposed an 8% Value Added Tax (VAT) on petroleum products leading to a hike in the prices of, among others, PSV fares and basic goods. .
Initially, MPs had rejected the Bill but the President shot down their bid but reduced the VAT from 16% after a public outcry.
editor [at] businesstoday.co.ke