The Energy and Petroleum Regulatory Authority (EPRA) on Thursday, May 14 announced yet another major drop in fuel prices.
In the changes, prices for Super Petrol and Diesel reduced by Ksh 9.54 and Ksh19.9 respectively while Kerosene was increased by Ksh2.49.
The new retail prices will, therefore, be Ksh 83.33, Ksh 75.86 and Ksh 79.77 for Super Petrol, Diesel and Kerosene respectively in Nairobi.
In Mombasa, Super Petrol, Diesel and Kerosene will retail at Ksh 90.85, Ksh 75.88 and Ksh 77.29 respectively; Ksh 83.33, Ksh 78.37 and Ksh 79.77 in Nairobi.
In Nakuru, Super Petrol, Diesel and Kerosene will retail at Ksh 83.22, Ksh 78.41 and Ksh 79.81 respectively; Ksh 84.20, Ksh 79.38 and Ksh 80.78 in Eldoret. In Kisumu, they will retail at Ksh 84.19, Ksh 79.37 and Ksh 80.77 for Super Petrol, Diesel and Kerosene.
The prices announced will be in force from Friday, May 15 to June 14. The changes were made in accordance with the Tax Laws (Amendment) Act of 2020.
The new law provides for other fuel levies, including road maintenance, railway development and regulatory fees to be included in the calculation of value-added tax (VAT).
In the period between April 15 and May 14, Super Petrol, Diesel and Kerosene retailed at Ksh92.87, Ksh97.56 and Kshs 77.28 respectively in Nairobi.
The relief came a day after EPRA rejected oil marketers and retailers' proposal to hike the fuel prices.
They had urged the government to base their indexes on the March crude oil prices which cost $35.58 (approximately Ksh3,727) a barrel, rather than $26.63 (approximately Ksh2,769) for April.
The retailers argued that they were unable to offload 40% of the expensive fuel they purchased in March due to stringent Coronavirus restrictions such as the dusk-to-dawn curfew.
"The way fuel pricing is done in Kenya is guided by the law and not at anyone's discretion. If they wanted any change in the approach, they would have to wait until when a new legal notice is being drafted to put in such conditions.
"The formula is even audited and EPRA cannot just change it due to some request from marketers," Petroleum Principal Secretary Andrew Kamau stated.
