The Energy and Petroleum Regulatory Authority (EPRA) has cut fuel prices, reducing the burden on motorists effective June 15th.

Super petrol and diesel prices have dropped by Kes0.66 and Kes 1.12, respectively.

“Taking into account the weighted average cost of imported refined petroleum products, the changes in the maximum allowed petroleum pump prices in Nairobi are as follows: Super Petrol and Diesel decrease by Kes 0.66 per litre and Kes 1.12 per litre respectively while Kerosene increases by Kes 0.35 per litre,” EPRA said in a statement.

A litre of super petrol will now retail at Kes182.04 and diesel at Kes167.28 in Nairobi. Super petrol will retail at Kes179.20 and diesel at Kes164.45 in Mombasa.

While Super petrol will retail at Kes181.18 and diesel at Kes166.78 in Nakuru.

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The drop in prices results from a drop in the average landed cost of imported super gasoline by 1.09 per cent from $724.01 per cubic metre in April to $716.15 in May 2023.

However, the price of a litre of kerosene has increased by Kes 0.35 to Kes161.48.

“The prices are inclusive of 8% Value Added Tax (VAT) in line with the provisions of the Finance Act 2018, the Tax Laws (Amendment) Act 2020 and the revised rates for excise duty adjusted for inflation as per Legal Notice No. 194 of 2020.”

Prices of fuel products could go up from 8 per cent to 16 per cent next month should the proposed Finance Bill 2023 see the light of day seeks to increase VAT on fuel products.