The Energy and Petroleum Regulatory Authority (EPRA) has officially announced new fuel prices which will have Motorists have a reason to smile from today to 14th July 2024. In a statement on its twitter page, the Authority stated, “In accordance with Section 101(y) of the Petroleum Act 2019 and Legal Notice No.192 of 2022, @EPRA_Ke has calculated the maximum retail prices of petroleum products, which will be in force from 𝟏𝟓𝐭𝐡 June 𝟐𝟎𝟐𝟒 𝐭𝐨 𝟏𝟒𝐭𝐡 July 𝟐𝟎𝟐𝟒.
“In the period under review, the maximum allowed petroleum pump price for Super Petrol, Diesel and Kerosene decrease by KShs.3.00, KShs.6.08 and KShs.5.71 per litre respectively. In Nairobi, Super Petrol, Diesel and Kerosene will now retail at Kshs.189.84, Kshs.173.10 and Kshs.163.05 effective midnight for the next 30 days.”
“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.” read part of the statement.
Fuel Prices and the Finance Bill 2024
The decrease in fuel prices comes a day after the Treasury Cabinet Secretary, Prof. Njuguna Ndungu read the budget for the financial year 2024/2025. It also comes in the same week when Transport CS, Kipchumba Murkomen proposed a plan to increase the Petroleum Development Levy from KES 18 to KES 25. This would mean that fuel prices would have to rise by at least KES. 7 to 9 per litre. The announcement comes in the wake of the online campaign dubbed #RejectFinanceBill2024 .
Young Lawyer with a passion for vehicles.
Upcoming Motor Journalist.
L'écriture est ma passion.
Nissan Patrol Y 62 is the goal.
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