A sigh of relief is slowly returning in the hard-hit economy, where the majority of Kenyans in the lower class are still struggling to make ends meet.
This is after the Energy and Regulatory Authority (EPRA) slashed the pump prices, signaling a leap of relief ahead should the landing cost continue on a downward trend.
EPRA has therefore decreased the prices of super petrol, diesel, and kerosene by Ksh.8.18 per liter, Ksh.3.53 per liter, and Ksh.6.93 per liter, respectively.
The new prices, which are set to be in force beginning October 15th to November 14th 2024, will now retail at Ksh.180.66 per liter for Super Petrol in Nairobi, Ksh.168.06 per liter for Diesel, and Ksh.151.39 per liter for Kerosene.
The above prices are inclusive of the 16% Value Added Tax (VAT), in line with the provisions of the Finance Act 2023.
The decreasing pump costs are also a result of the subsequent reducing landing cost of the petroleum products.
The average cost of the imported Super Petrol decreased by 8.59% from US$697.62 per cubic meter in August 2024 to US$637.70 per cubic meter in September 2024.
The average landing cost of diesel decreased by 5.52% from US$673.36 per cubic meter to 636.22 per cubic meter in the same period. The cost of kerosene reduced by 6.73% from US$668.34 to US$623.39 per cubic meter.
