EPRA: Fuel prices remain unchanged

In the latest review, the Energy and Petroleum Regulatory Authority (Epra) has announced the prices of petrol, kerosene and diesel will remain unchanged despite the decrease in global crude oil prices. The new prices will be effective from January 15, 2023 to February 14, 2023. The regulator said it would retain the current prices despite the landing cost of imported super petrol decreasing by 6.19 percent, kerosene 4.07 percent and diesel decreasing by 11.08 percent in December 2022. According to the press statement, it said the cost of a litre of petrol will retail at Sh177.3 per liter, diesel Sh162 and kerosene Sh145.94 in Nairobi. “In accordance with Section 101(y) of the Petroleum Act 2019 and Legal Notice No.192 of 2022, Epra has calculated the maximum retail prices of petroleum products which will be in force from 15th Jan 2023 to 14th Feb 2023,” read the statement. “In the period under review, the maximum allowed petroleum pump prices for Super Petrol, Diesel and Kerosene remain unchanged.” According to Epra, the prices are inclusive of the 8 per cent 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. In December, the prices were retained. In November, Epra handed Kenyans marginal relief at the pump by cutting fuel prices by Sh1, following a similar reduction in October. The regulator said the price reduction followed a drop in landed cost for imported fuel products, which fell by up to 9 per cent. President William Ruto dropped the fuel subsidy of his former boss Uhuru Kenyatta, arguing that the subsidies were unsustainable. Also read: Catherine Kasavuli’s mum asks Mudavadi to lead the Luhya nation Ombachi shares excitement after Kelly Rowland follows his recipes Mike Sonko’s cryptic apology to Michelle Ntalami