The Energy and Petroleum Regulatory Authority (EPRA) has announced a substantial reduction in fuel prices.

According to the latest review, the price of petrol will decrease by Sh3, diesel by Sh6.08 per litre, and kerosene by Sh5.71 per litre. This announcement comes as a welcome relief to consumers grappling with the soaring cost of living.

EPRA made the grand revelation, stating, “The average landed cost of imported Super Petrol decreased by 1.95 per cent from US$765.87 per cubic metre in April 2024 to US$750.95 per cubic metre in May 2024.”

It further added, “Diesel decreased by 3.92 per cent from US$719.21 per cubic metre to US$690.99 per cubic metre while Kerosene decreased by 6.84 percent from US$728.97 per cubic metre to US$679.14 per cubic metre.”

Effective midnight for the next 30 days, the revised prices will take effect in various parts of the country. In Nairobi, super petrol, diesel, and kerosene will be selling at Sh189.84, Sh173.10, and Sh163.05, respectively.

Meanwhile, in Mombasa, prices will stand at Sh186.66, Sh169.93, and Sh160 for super petrol, diesel, and kerosene, respectively.

EPRA attributed the price drop to alignment with the provisions of the Finance Act 2023, the Tax Laws (Amendment) Act 2020, and the revised rates for excise duty adjusted for inflation under Legal Notice No. 194 of 2020.

This decisive move by EPRA is set to bring much-needed relief to consumers across the country, with hopes of alleviating the financial burden faced by many.