President William Ruto has told Kenyans to expect new reduced fuel prices ahead of the Energy and Petroleum Regulatory Authority (EPRA) review on Thursday, March 14.
Speaking in Kericho while launching several projects, the Head of State announced that his administration has made elaborate plans which will see the product record a decrease in retail prices.
Ruto remained bullish indicating that the new measures will be evident through the latest EPRA review.
"Even the price of fuel is going to reduce just relax. They are going to announce a new price today, so relax," Ruto stated.
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"I told you I have everything under control, so just relax and know that everything is fine," Ruto stated.
However, in March's review, Ruto revealed the exact figure fuel will drop by.
EPRA is however expected to reveal the new prices effective midnight on Thursday, March 14 and will run till April 14.
In the last review, EPRA announced the reduction of fuel prices by Ksh1 for petrol, diesel and kerosene.
"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 15th February to 14th March 2024," EPRA stated.
In Nairobi, super petrol, diesel, and kerosene retailed at Ksh206.36, Ksh195.47, and Ksh193.23 respectively from February 14.
"The prices are inclusive of the 16% Value Added Tax (VAT) in line with the provisions of the Finance Act 2023, the Tax Laws (Amendment) Act 2020 and the revised rates for excise duty adjusted for inflation as per Legal Notice No. 194 of 2020," EPRA added.
Besides the fuel situation, Ruto lauded his administration for stabilising the dollar situation and getting the country out of the debt burden.
The President reiterated that he is keen on reviving the economy which is his number one agenda.
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