The Energy and Petroleum Regulatory Authority (EPRA) has officially announced new fuel price increase margins. In a statement, the Authority stated, “has calculated the maximum retail prices of petroleum products, which will be in force from 15th September to 14th October.
The maximum allowed petroleum pump prices in Nairobi are as follows: Super Petrol increases by KShs. 16.96, Diesel increases by KShs. 21.32 per litre, and kerosene increases by KShs.33.13 per litre. The increase effectively means that a litre of Super Petrol will retail at Kshs. 211.64/=, a litre of Diesel at 200.99/= & a litre of Kerosene will retail at Kshs. 202.61/= in Nairobi.
Fuel Prices and VAT
“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.
This is the highest-ever recorded fuel price in the country. Economic experts have argued that the decline of the Shilling against the Dollar is, and continues to be the biggest contributor to the ever-rising fuel prices. The prices mean that there are areas where a litre of super petrol will retail at Kshs. 220/-. This will in turn continue to increase the cost of living since transport prices will also increase especially for long-distance travel and consequently cause a trickle-down effect to the cost of basic goods.
Young Lawyer with a passion for vehicles.
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