By Shadrack Nyakoe
The Energy & Petroleum Regulatory Authority (EPRA) has announced that the maximum retail prices for petroleum products in Kenya will remain unchanged for the period of November 15 to December 14, 2024.
This decision, made in line with Section 101(y) of the Petroleum Act 2019 and Legal Notice No. 192 of 2022, reflects the latest assessment of costs for Super Petrol, Diesel, and Kerosene.
The price stability comes despite minor fluctuations in the landed costs of these products in recent months. In October 2024, the landed cost for Super Petrol increased by 0.54% to $641.14 per cubic meter from $637.70 in September.
Diesel saw a decrease of 4.34% to $608.61 per cubic meter, while Kerosene increased by 3.97% to $648.15 per cubic meter. All prices include the 16% Value Added Tax (VAT) required under the Finance Act 2023 and other tax amendments.
EPRA has assured consumers that these unchanged prices are a result of measures to cap retail prices while recovering import and other prudently incurred costs.
The agency stated its commitment to protecting consumer interests and supporting fair competition in Kenya’s energy and petroleum sector.
EPRA Director General Daniel Kiptoo Bargoria emphasized that the organization will continue to monitor pricing to ensure stability and fair pricing for both consumers and investors.
