Kenya: More Pain for Kenyans as EPRA Increases Fuel Prices

14 October 2023
Capital FM (Nairobi)
By Kevin Rotich

Nairobi — Kenyans are staring at difficult times ahead after the Energy and Petroleum Regulatory Authority (EPRA) today reviewed fuel prices across the country.

A litre of super petrol, starting at midnight, will go up by Sh5.72, diesel by Sh4.48, and kerosene by Sh2.45.

This means that Nairobi residents will now pay Sh217.36 for petrol, Sh205.47 for diesel, and Sh204.46 for kerosene.

EPRA attributes higher prices to an increase in the average landed cost of imported super that went up by 3.93 percent to $805.14 in September from the previous month.

Likewise, diesel rose by 7.07 percent to $845.72 per cubic metre, while kerosene increased by 5.01 percent to $868.70 per cubic metre during the same period.

"Taking into account the weighted average cost of imported refined petroleum products, the changes in the maximum allowed petroleum pump prices in Nairobi are as follows: Super Petrol increases by KShs.5.72 per litre, Diesel increases by KShs.4.48 per litre and Kerosene increases by KShs.2.45 per litre," EPRA announced on its X page.

"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," it added.

Fuel prices hit historic highs last month after the state introduced an additional eight percent value-added tax (VAT) to 16 percent, pushing commodity prices to historic highs.

Then, it pushed retail prices of petrol to Sh211.64, diesel (Sh200.99), and kerosene (Sh202.61) in the capital city of Kenya.

This is even as prices of petroleum products are set to increase going forward amid the rising cost of global crude, as former Trade CS Moses Kuria warned.

Read the original article on Capital FM.

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