Fuel prices in Kenya have dropped by one shilling, according to the latest Energy and Petroleum Regulatory Authority (EPRA) review.
In Nairobi, super petrol, diesel, and kerosene will sell at KSh 206.36, KSh 195.47 and KSh 193.23, respectively, for the next 30 days – 15th February to 14th March. The fuel prices include a 16% value-added tax (VAT).
According to EPRA, the average landed cost of imported super petrol decreased by 1.71% from US$ 677.78 per cubic metre in December 2023 to US$ 666.16 per cubic metre in January 2024.
Diesel cost decreased by 3.08% from US$ 751.15 per cubic metre to US$ 728.03 per cubic metre during the period under consideration, while kerosene declined by 1.17% from US$ 727.00 per cubic metre to US$ 718.51 per cubic metre.
Fuel inflation rose 14.3% in January 2024 from 13.7% in December 2023, primarily due to higher electricity tariffs. Kenya’s overall inflation increased to 6.9% in January 2024 from 6.6% in December 2023.
“The risks to inflation remain elevated in the near term, reflecting the impact of second-round effects of the rise in fuel inflation and pass-through effects of exchange rate depreciation,” said the Central Bank of Kenya Monetary Policy Committee (MPC) when it met on February 6, 2024.
