The Energy and Petroleum Regulatory Authority (EPRA) on Sunday announced the new fuel prices for January to February.

In a statement, EPRA announced that Super Petrol decreased by ksh5, Diesel by Ksh5, and Kerosene by Ksh4.82 per litre.

"In the period under review, the maximum allowed petroleum pump price for Super Petrol, Diesel and Kerosene decrease by Ksh5.00, Ksh.5.00 and Ksh.4.82 per litre respectively," read part of the statement.

In Nairobi, Super Petrol will retail at Ksh207.36, Diesel at Ksh196.47, and Kerosene at Ksh194.23.

EPRA revealed that the new prices are inclusive of the 16 per cent Value Added Tax (VAT) as outlined by the Finance Act 2023, the Tax Laws (Amendment) Act 2020, and the revised rates for exercise duty adjusted for inflation.

The authority's Director General Daniel Kiptoo added that the price of diesel has been cross-subsidised with that of super petrol.

"Oil Marketing Companies (OMCs) will be compensated for the under-recovery costs from the Petroleum Development Levy (PDL) Fund," he stated.

Meanwhile, motorists in other major cities will also enjoy the reduction in prices. Those in Mombasa will pay Ksh204.3, Ksh193.41, and Ksh191.05 for Petrol, Diesel, and Kerosene respectively.

Motorists in Eldoret will part with Ksh207.12 for Petrol, Ksh196.65 for Diesel, and Ksh194.43 for Kerosene. Additionally, Nakuru residents will be charged Ksh206.35 for Petrol, Ksh195.88 for Diesel, and Ksh193.66 for Kerosene.

Kisumu motorists will pay Ksh207.12, Ksh196.64, and Ksh194.42 for Petrol, Diesel, and Kerosene respectively.

"EPRA wishes to assure the public of its continued commitment to the observance of fair competition and protection of the interests of both consumers and investors in the energy and petroleum sectors," Kiptoo added.

Notably, the announcement came at a time when Kenyans were anticipating a drop due to the decrease in prices in the global market.

However, in a CEO survey conducted by the Central Bank of Kenya (CBK), Kenyans were warned to prepare for higher fuel prices due to the weakening Shilling.

CBK last week revealed that the Shilling is projected to depreciate further. Currently, the exchange rate stands at Ksh159.85 against the dollar.