EPRA’s June Surprise: Fuel Prices Take a Dip
On Wednesday, June 14, the Energy and Petroleum Regulatory Authority (EPRA) announced the new prices for gasoline and diesel that will go into effect at midnight.
As a result of the recent review, the price of one liter of super petrol has decreased by Ksh0.66 and will now be sold at Ksh182.04 per liter. Diesel, on the other hand, will now have a suggested retail price of Ksh167.28 after a Ksh1.12 price cut.
However, there was a Ksh0.35 increase in the price of kerosene, and it will now be selling at Ksh161.48 per liter for the following month.
“The changes in the maximum allowed petroleum pump prices in Nairobi are as follows, taking into account the weighted average cost of imported refined petroleum products: According to a portion of the statement, “the price of super petrol and diesel will drop by Kshs.0.66 per liter and Kshs.1.12 per liter respectively, while the price of kerosene will rise by Kshs.0.35 per liter.”
The price of one liter of diesel will be Ksh164.45, while the price of one liter of super petrol will be Ksh179.20 in Mombasa. In the coastal county, the price of kerosene per liter is 158.65 Kenyan Shillings.
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In addition, EPRA disclosed that the price of a liter of super petrol in Nakuru will be Ksh181.18, while the price of a liter of diesel in the new city will be Ksh166.78. The price of kerosene was determined to be Ksh161.01 per liter.
In addition, the authority mentioned that the new prices already incorporated the Value-Added Tax (VAT) of 8%, which was mandated by the Finance Act 2018 and the Tax Laws (Amendment) Act 2020.
“The objective of the Petroleum Pricing Regulations is to place a ceiling on the retail prices of petroleum products that are already in the country. This will allow for the recovery of importation and other costs that have been prudently incurred, while also ensuring that consumers pay reasonable prices.
The statement included the following, in part: “EPRA wishes to assure the public of its continued commitment to the observance of fair competition and protection of the interests of both consumers and investors in the energy and petroleum sectors,”
After a Ksh3.40 hike, the price of super petrol reached a new retail high of Ksh182.70 during the May-June fuel price review. The biggest jump in price was for kerosene, which went up 15.19 Kenyan Shillings per liter and now sells for 161.13 Shillings.
The price of a liter of kerosene, on the other hand, went up by Ksh6.40, bringing it to a total of Ksh168.40.
The removal of the subsidy that had been placed on diesel and kerosene can be credited with causing an increase in the cost of fuel during May.
EPRA’s June Surprise: Fuel Prices Take a Dip
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