Energy and Petroleum Regulatory Authority EPRA has announced the new maximum retail prices of petroleum products which will be in force from 13th May 2023 to 14th June 2023.
In a press release, EPRA cite increase in importation prices as the cause.
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, Diesel and Kerosene increase by Kshs.3.40 per litre, Kshs.6.40 per litre and Kshs.15.19 per litre respectively.
The subsidy on Diesel and Kerosene has been removed.
The prices are inclusive of the 8% Value Added Tax (VAT) in line with the provisions of the Finance Act 2018, the Tax Laws (Amendment) Act 2020 and the revised rates for excise duty adjusted for inflation as per Legal Notice No, 194 of 2020.
The average landed cost of imported Super Petrol increased by 8.63% from US$666.51 per cubic metre in March 2023 to US$724.01 per cubic metre in April 2023.
Diesel decreased by 2.51% from US$705.82 per cubic metre to US$688.07 per cubic cubic metre while Kerosene decreased by 1.13% from USS707.53 per cubic metre to metre.
