EPRA

EPRA Announces Reduction in Fuel Prices by Ksh1 Amidst Mixed Reactions

EPRA has revealed a decrease in fuel prices, with Super Petrol, Diesel, and Kerosene all set to drop by Ksh1. Kenyans have expressed a mix of sentiments towards the decision.

The Energy and Petroleum Regulatory Authority (EPRA) in Kenya has unveiled a reduction in fuel prices, with Super Petrol, Diesel, and Kerosene all experiencing a Ksh1 decrease. The announcement, made for the period covering February 15 to March 14, 2024, comes as welcome news for motorists and consumers. EPRA emphasized that the new prices are inclusive of the 16% Value Added Tax (VAT) in compliance with the 2023 Finance Act and Tax Laws. Despite the positive development, some Kenyans have expressed disappointment over the marginal reduction, especially in light of rising living costs and inflation.

The EPRA's move to stabilize kerosene prices has been a point of contention, with the latest fuel price adjustments attempting to strike a balance for different fuel types. The regulatory authority's decision to implement the price reduction reflects an effort to alleviate the financial burden on Kenyan households and businesses. However, the limited decrease of Ksh1 per liter has sparked criticism among consumers and industry players, questioning the impact on the overall cost of living and transportation.

EPRA's consistent updates on fuel prices indicate an awareness of the economic landscape, aiming to adjust rates to benefit the public and maintain market stability. The periodic reviews and adjustments are part of the authority's mandate to regulate the energy sector and ensure fair pricing and accessibility. While the reduction in fuel prices is a positive development, ongoing discussions and debates continue on the adequacy of the adjustments and their long-term implications for the economy and consumers.

In related news, the EPRA's decision to increase Petroleum Regulatory Levy by three times in the latest review has raised concerns among Kenyans. The mix of developments from EPRA's recent announcements showcases the complexity of balancing market dynamics with consumer needs, highlighting the ongoing challenges faces in the energy sector.