The Energy and Petroleum Regulatory Authority (EPRA) has reviewed upwards fuel prices.
Starting May 15, a litre of Kerosene will retail at Sh161.13 after the government removed subsidies. The price went up by Sh15, in a move set to affect poorer households that depend on the commodity for lighting and cooking.
The State also removed Diesel subsidies further increasing the prices. As a result, Diesel will now sell at Sh168.40, an increase of Sh6.40.
Petrol prices shot up by Sh3.40 and will retail at Sh182.70.
“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,” EPRA said in a notice.
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 and wholesale prices of petroleum products which will be in force from 15thMay 2023 to 14th June 2023.^DC pic.twitter.com/eX4OcpXprh
— Energy and Petroleum Regulatory Authority (@EPRA_Ke) May 14, 2023
In a statement, EPRA’s Director General Daniel Bargoria attributed the soaring prices to the average cost of imported refined petroleum products which has seen the landing cost of imports varying in prices.
The landing cost of Super Petrol increased by 8.63% in March 2023, Diesel decreased by 2.51% while Kerosene also dropped to 1.13%.