The Energy and Petroleum Regulatory Authority has announced a reduction of fuel prices in the latest review.

In the review, Super Petrol price has been reduced Sh5 per litre, while diesel and Keronese have been reduced by Sh5 and Sh4.82 respectively.

In Nairobi, Super Petrol, Diesel and Kerosene will now retail at Sh207.36, 196.47  and Sh194.23 effective midnight for the next 30 days.

In accordance with Section 101(y) of the Petroleum Act 2019 and Legal Notice No.192 of 2022, Epra has calculated the maximum retail prices of petroleum products, which will be in force from Janurary 15 to February 14, 2024 ,” Epra said in a statement.

“In the period under review, the maximum allowed petroleum pump price for Super Petrol, Diesel and Kerosene decrease by Sh5, Sh5 and Sh4.82 per litre respectively.”

The regulator said the new prices are inclusive of the 16 per cent Value Added Tax (VAT) in line with the provisions of the Finance Act 2023.

The drop in fuel prices for the second month in a row, could be due to a drop in global crude prices.