- The revised pricing structure includes a 16% Value Added Tax (VAT), in accordance with the Finance Act 2023, the Tax Laws (Amendment) Act 2020, and updated excise duty rates adjusted for inflation per Legal Notice No. 194 of 2020.
Effective December 15, 2024, the Energy and Petroleum Regulatory Authority (EPRA) has announced a decrease in the maximum allowed pump prices for key petroleum products: Super Petrol, Diesel, and Kerosene.
Specifically, Super Petrol will see a reduction of Ksh 4.37 per litre, while Diesel and Kerosene will each decrease by Ksh 3.00 per litre. This notice, communicated in a statement on December 14, 2024, aligns with Section 101(y) of the Petroleum Act 2019 and Legal Notice No. 192 of 2022.
“In accordance with Section 101(y) of the Petroleum Act 2019 and Legal Notice No.192 of 2022, we have calculated the maximum retail prices of petroleum products which will be in force from 15 th December 2024 to 14th January 2025,” said EPRA in a statement.
The revised pricing structure includes a 16% Value Added Tax (VAT), in accordance with the Finance Act 2023, the Tax Laws (Amendment) Act 2020, and updated excise duty rates adjusted for inflation per Legal Notice No. 194 of 2020.
EPRA has noted significant fluctuations in the market that influenced these adjustments. For instance, the average landed cost of imported Super Petrol decreased by 4.46%, falling from US$641.14 per cubic metre in October 2024 to US$612.53 in November 2024. Conversely, Diesel prices increased by 5.76% (from US$608.61 to US$643.69 per cubic metre), and Kerosene saw a rise of 1.87% (from US$648.15 to US$660.30 per cubic metre).
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In major cities, the maximum pump prices effective December 15, 2024, will be Ksh 176.29 per litre for Super Petrol, Ksh 165.06 for Diesel, and Ksh 148.39 for Kerosene in Nairobi. In Nakuru, the prices will be slightly lower, with Super Petrol at Ksh 175.51 per litre, Diesel at Ksh 164.63, and Kerosene at Ksh 148.01.
