Fuel prices have gone down by KES 1.00 in the latest pump price review by the Energy and Petroleum Regulatory Authority (EPRA).
According to the authority, following this Super Petrol, Diesel and Kerosine will retail at KES 206.36, KES 195.47, KES 193.23 respectively in Nairobi.
Director General Daniel Kiptoo stated that the “prices are inclusive of the 16 percent 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 the Legal Notice No. 194 of 2020.”
“The price of diesel has been cross subsidized with that of Super Petrol while Kerosine has been fully subsidized,” he stated.
He pointed out that Oil Marketing Companies (OMCs) will be compensated for the under recovery of costs from the Petroleum Development Levy (PDL) fund.
President William Ruto and EPRA boss Daniel Kiptoo had stated that the drop if fuel prices will continue this year.
In December last year, EPRA slashed the pump prices by up to Sh5 per litre, the biggest drop since October 2021.
—CapitalNews
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