The Energy and Petroleum Regulatory Authority Director Daniel Kiptoo has announced new fuel prices following the assenting of financial Bill 2023.
Kiptoo says: “Pursuant to the Finance Act, 2023, the Value Added Tax (VAT) on Super Petrol (PMS), Diesel (AGO) and Kerosene (IK) has been revised from 8% to 16% effective 1st July 2023.”
“Accordingly, the Energy Petroleum Regulatory Authority (EPRA) has recalculated the maximum pump prices that will be in force from 1t July to 14th July 2023 taking into account VAT at 16%.
As a result, the changes in the maximum allowed petroleum pump prices in Nairobi are as follows: Super Petrol, Diesel and Kerosene increase by KShs.13.49 per litre, KShs.12.39 per litre and KShs.11.96 per litre respectively.
A summary of the resultant retail prices for major towns in Kenya is provided as AnnexI while the wholesale prices at the main supply depots in Kenya are provided as Annex I.
Further, a detailed breakdown of the cost items for retail prices in Nairobi is provided as Annex III for information.
The purpose of the Petroleum Pricing Regulations is to cap the retail prices of petroleum products which are already in the country so that importation and other prudently incurred costs are recovered while ensuring reasonable prices to consumners.
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.”
The prices are effective midnight.
