Reprieve to Kenyans as EPRA reduces petrol, diesel prices by KSh 5

Nairobi, Kenya – Prices of petroleum products at the pump have been reduced across the country for the second month in a row.

Energy and Petroleum Regulatory Authority (EPRA) revised pump prices for January 15 to February 14, 2024. This saw prices of super petrol, diesel and kerosene reduce by KSh 5, KSh 5 and KSh 4.82 per litre, respectively.

What are the new fuel prices?

Motorists in Nairobi are now paying KSh 207.36 for a litre of super petrol, KSh 196.47 for a litre of diesel and KSh 194.23.

In Mombasa, the same products go for KSh 204.3, KSh 193.41 and KSh 191.05 per litre, respectively.

EPRA attributed the drop in pump prices to the average decrease in landed coast in November and December 2023.

Landing cost of super petrol decreased by 2.4%, diesel by 9.06% and kerosene by 4.33%.

Falling Kenya shilling

The regulator further noted that the continued depreciation of the shilling against the dollar also have an impact to the prices of petroleum products.

Data from the Central Bank of Kenya (CBK) showed the shilling exchanged at KSh 159.85 as of the close of business on Thursday, January 11.

This represented a significant decline from the exchange rate of KSh 157.39 reported in the first week of January 2024.

In December 2023, EPRA reduced pump prices where super petrol has decreased by Ksh 5 per litre, diesel by Ksh 2 per litre, and kerosene by Ksh 4.01 per litre.

This comes as weak demand and oversupply of fuel on the global market results in a drop in prices according to media reports.