Home Business Pain at the pump as EPRA hikes fuel prices in latest review

Pain at the pump as EPRA hikes fuel prices in latest review

Consumers will pay an average of Ksh 12 per litre litre of fuel after the Energy and Petroleum Regulatory Authority (EPRA) announced new prices to reflect the 16pc Value Added Tax charged on petroleum products.

The new prices published on Friday by the authority will see a litre of super petrol rise by Ksh 13.49, diesel by Ksh 12.39 and kerosene by Ksh 11.96 effective July 1, 2023 until next review on July 14, 2023.

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“Pursuant to the Finance Act 2023, the Value Added Tax on super petrol, diesel and kerosene has been revised from 8pc to 16pc effective 1st July 2023. Accordingly, EPRA has recalculated the maximum pump prices that will be in force from 1st July 2023 taking into account VAT at 16pc,” said Kiptoo Bargoria, EPRA Director General in a statement.

The price adjustments means consumers in Nairobi will pay a maximum of Ksh 195.53 for a litre of petrol and Ksh 179.67 for a litre of diesel. Kerosene users on the other hand will pay a maximum of Ksh 173.44 per litre beginning Saturday.

The new prices comes as the High Court suspended the implementation of the Finance Act, 2023 in a case filed by Busia Senator Okiya Omtatah.

Lady Justice Mugure Thande gave the orders on Friday with the mention of the case slated for July 5, 2023.

 

 

 

 

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