Motorists will today get relief after the directive by the Energy and Petroleum Regulation Authority to lower fuel prices. Super Petrol prices will reduce by Kshs 2.86 per litre while diesel prices will reduce by Kshs 3.28 per litre.
The new prices will be effective from August 15th to 14th September 2019.
A press release dated August 14th 2019 states in part that, “The pump prices are inclusive of 8% Value Added Tax (VAT), in line with the provisions of the Finance Act 2018 and the revised rates for excise duty adjusted for inflation as per Legal Notice No. 109 of 9th July 2019.”
EPRA has attributed the latest decrease in petrol and diesel costs to a break in the pricing of fuel imports between June and July.
“The changes in this month’s prices have been a consequence of the average cost of imported super petrol and diesel decreasing by 5.6 and 7.1 percent between June and July 2019,” read EPRA’s statement to media houses in part.
The decrease in fuel pump prices will go a long way to reduce the pressure of inflation of basic commodities, which tend to shoot up any time fuel prices are increased.
Kerosene prices, however, will increase by Kshs 1.98 per litre.