New EPRA Increased Fuel Pump Prices & How they Hit On Kenyans
The Energy Regulator Authority EPRA has issued new Super Petrol price that has increased by Sh5.72 litre.
On the other hand ,the Diesels prices have changed by Sh4.48 litre and Kerosene by Sh2.45 litre in this month’s review.
With th s new adjustments , it means that one litre of super petrol will retail at Sh217.36 in Nairobi as the diesel fuel cost is at Sh205.47 and kerosene will sell at Sh205.06 per litre.
EPRA announced that the prices above are inclusive of the 16 per cent Value Added Tax (VAT) which is in line with the provisions of the Finance Act 2023. Note that Tax Laws (Amendment) Act 2020 and the revised rates for excise duty adjusted for inflation as per Legal Notice No. 194 of 2020.
Note that even with this increment, already the state has cushioned consumers from the projected increase through a stabilisation mechanism to be funded by the Petroleum Development Levy (PDL) . This mechanism is in line with the Petroleum Development Levy Order of 2020.
Otherwise, sources indicate that without this subsidy, then the cure litre of super Petrol was to increase by Sh8.79 as that of diesel is by Sh16.12 and Kerosene by Sh12.05 respectively.
EPRA has announced that the situation would have been worse were it not for the Government-to-Government arrangement that has resolved the USD liquidity challenges that the petroleum sub-sector was faced with prior to April 2023 when the programme begun.
Fuel prices have since lowered the value of the currency hence rate of depreciation of the shilling, with the local currency closing the week at 149.20 units against the dollar.
Under a revie that was done in last month , the coat of fuel prices crossed the Sh200 mark for the first time ever something that led to the cost of fuel being bat Sh211.64 per litre of petrol in Nairobi after a Sh16.96 increase.
In the same moth , the cost of diesel went up by Sh21.32 as the cost for Kerosene increased by Sh33.13 and it was sold at Sh200.99 .
The same costed Sh202.61 per litre in Nairobi respectively for the September-October cycle which ends on Saturday night 14th October , 2023.
New EPRA Increased Fuel Pump Prices & How they Hit On Kenyans