EPRA Announces October Fuel Prices, Petrol Drops by Ksh 8

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

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

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

According to the facility regulatory authority, the charges had been complete of the 16 p.c 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 major 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 gasoline charges would definitely go down, significantly as a result of the Kenyan shilling has really been holding its very personal versus the United States buck. According to the present foreign money trade fee the shilling traded at 128.50/ 129.50 versus the buck, which coincided worth as from final Friday, in line with info from the London Stock Exchange Group.

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

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

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