Petrol, Diesel prices drop to offer motorists reprieve as kerosene price soarsOctober 14, 2019
NAIROBI, Kenya, Oct 14 – The prices of super petrol and diesel have dropped by Sh4.76 and Sh1.08 respectively, according to the latest review by Energy and Petroleum Regulatory Authority (EPRA).
In its Monday afternoon statement, EPRA reduced the maximum price of Super petrol to Sh108.05, while that of diesel will be Sh101.96.
The new prices offer relief to motorists, who have been hard hit by the tough economic times but will hit families that use kerosene whose price has risen by Sh0.44 to retail at Sh101.08.
The pump prices are inclusive of 8 percent Value Added Tax (VAT), in line with the provisions of the Finance Act 2018, and the revised rates for excise duty adjusted for inflation.
“The changes in this month’s prices have been as a consequence of the average landed cost of imported super petrol decreasing by 7.66 percent from US497.36 per cubic metre in August 2019 to US459.27 per cubic metre in September 2019. Diesel decreased by 2.32 percent from US503.61 percent per cubic meter to US419.94 per cubic metre and kerosene increased by 0.47 percent from US484.29 per cubic meter to US486.55 per cubic meter,” Oimeke said in a statement.
These changes come at a time when the mean monthly US Dollar to Kenya Shilling exchange rate depreciated by 0.34percent from Sh103.44 per US dollar in August 2019 to Sh103.79 per US dollar in September 2019.