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Slight Relief For Motorists as Fuel Prices Drop Marginally 2nd Time in 2024

A car at a Fuel Station in Kenya
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As a section of Kenyans were anxiously waiting for Valentine’s, motorists were eagerly waiting for the announcement on the new fuel prices by the Energy and Petroleum Regulatory Authorityย (EPRA)ย In a statement, the Authority stated, โ€œIn accordance with Section 101(y) of the Petroleum Act 2019 and Legal Notice No.192 of 2022, @EPRA_Ke has calculated the maximum retail prices of petroleum products, which will be in force from ๐Ÿญ๐Ÿฑ๐˜๐—ต ๐—™๐—ฒ๐—ฏ๐—ฟ๐˜‚๐—ฎ๐—ฟ๐˜† ๐Ÿฎ๐Ÿฌ๐Ÿฎ๐Ÿฐ ๐˜๐—ผ ๐Ÿญ๐Ÿฐ๐˜๐—ต ๐— ๐—ฎ๐—ฟ๐—ฐ๐—ต ๐Ÿฎ๐Ÿฌ๐Ÿฎ๐Ÿฐ.”

“In the period under review, the maximum allowed petroleum pump price for Super Petrol, Diesel and Kerosene decrease by Ksh. 1.00 respectively.” read part of the statement issued by EPRA. This effecttively means that, as of midnight tonight upto and until 14th March, Super Petrol, Diesel and Kerosene will now retail at Kshs. 206.36, 195.47 & 193.23 in Nairobi.

A car at a Fuel Station in Kenya
A car at a Fuel Station in Kenya

โ€œThe prices are inclusive of the 16% Value Added Tax (VAT) in line with the provisions of the Finance Act 2023, the Tax Laws (Amendment) Act 2020 and the revised rates for excise duty adjusted for inflation as per Legal Notice No. 194 of 2020.โ€ read another part of the statement.

Fuel Prices and the Dollar

This comes even as Kenyans continue to speculate about the direction of the dollar which has been on a gaining trend against the dollar within the course of the week. Some Kenyans are arguing that the reason for the trend is because of the week long Chinese holiday hence low demand for the Dollar. Others argue that i will be back to the regions of 160 in a few weeks which may result in an increase in fuel prices.

Kenyan shilling a background with new series of banknotes

Many motorists expected fuel prices to drop further and are disappointed with the Ksh. 1.00 drop. However, it is a slight improvement from the trend seen towards the end of 2023 as fuel prices hit an all time record high in Kenya.

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Young Lawyer with a passion for vehicles.
Upcoming Motor Journalist.
L'รฉcriture est ma passion.
Nissan Patrol Y 62 is the goal.
www.karimi.co.ke
karimi@spaceyamagari.com

#SpaceYaMagari
Karimi Junior
the authorKarimi Junior
Young Lawyer with a passion for vehicles. Upcoming Motor Journalist. L'รฉcriture est ma passion. Nissan Patrol Y 62 is the goal. www.karimi.co.ke karimi@spaceyamagari.com

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