Kenyan motorists are set to enjoy reduced fuel prices following the latest review by the Energy Petroleum and Regulatory Authority (EPRA).
A litre of Petrol has been lowered by Ksh.3 and will retail at Ksh.189.84.
Diesel and Kerosene on the other hand have been lowered by Ksh.6 and Ksh.5.71, respectively.
The two will for the next one month to July 14, 2024 retail at Ksh.173.1 and Kerosene at Ksh.163.05.
“The 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,” reads the statement.
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The reduced commodity rates come at a time when the Kenyan currency has strengthened against the dollar.
Data from the Central bank of Kenya (CBK) indicate that the shilling is currently retailing at 128.5.
This is from the record level of 162 at the beginning of the year 2024
The reduced cost is also informed by the fact that government tapped into the fuel stabilization fund again this month specifically for Petrol.
