The Energy and Petroleum Regulatory Authority (EPRA) has officially announced new fuel price increase margins. In a statement, the Authority stated, “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 1″ July 2023. Accordingly, the Energy Petroleum Regulatory Authority (EPRA) has recalculated the maximum pump prices that will be in force from 1st July to 14th July 2023 taking into account VAT at 16%.” read part of the statement.
“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.” read the statement. Consequently, the price of Petrol within Nairobi will now retail at KES. 195.53, Diesel at 179.67, and Kerosene at 173.44. Kenyans had already anticipated an increase in the prices of fuel by a margin of 11 to 12 Shillings per litre.
EPRA’s announcement on the increase in fuel prices comes as the High Court today has issued conservatory orders suspending the implementation of the Finance Act, 2023 until a case filed by Activist and Busia Senator Okiya Omtatah is heard and determined. Lady Justice M. Thande listed the matter for hearing on 5th July 2023.
It remains to be seen whether fuel retailers will implement the directive with the impending order of the High Court since the increase is resultant of the now-suspended Finance Act, 2023.
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