EPRA Announces July 2023 Fuel Prices Despite Finance Act Suspension
The Energy and Petroleum Regulatory Authority (EPRA) announced new fuel prices for July 2023 on Friday, despite the suspension of the Finance Act 2023 by High Court Judge Mugure Thande.
Fuel’s Value-Added-Tax (VAT) increased from 8% to 16%, necessitating a price increase by EPRA.
The new retail prices in Nairobi are super petrol Ksh195.53 per liter, diesel Ksh179.67 per liter, and kerosene Ksh173.44 per liter.
“Effective July 1, 2023, the Value-Added Tax (VAT) on Super Petrol, Diesel, and Kerosene has increased from 8% to 16% under the Finance Act of 2023.
In light of this, the Energy Petroleum Regulatory Authority (EPRA) has recalculated the maximum pump prices that will be in effect from July 1 to July 14, 2023, taking into account the 16% VAT rate.
As a result, EPRA Director-General Daniel Kiptoo Bargoria stated that the maximum permitted pump prices for Super Petrol, Diesel, and Kerosene in Nairobi increased by Ksh13.49 per liter, Ksh12.39 per liter, and Ksh11.96 per liter, respectively.
ALSO READ: Finance Act 2023 Temporarily Suspended by High Court
According to EPRA, the Petroleum Pricing Regulations aim to cap the retail prices of petroleum products already in the country, ensure importation and other prudently incurred costs are recovered, and charge consumers reasonable prices.
“EPRA wishes to reassure the public of its continued commitment to the observance of fair competition and the protection of the interests of both consumers and investors in the energy and petroleum sectors,” read portions of an EPRA statement.
In Mombasa, super petrol will cost Ksh192.48 per liter, diesel will cost Ksh176.63 per liter, and kerosene will cost Ksh170.40 per liter.
Simultaneously, the price per liter of petroleum products increased in major cities, including Nakuru and Kisumu.
A liter of super petrol costs Ksh194.60 in Nakuru, diesel costs Ksh179.14, and kerosene costs Ksh172.93.
A liter of super petrol will cost Ksh195.34 in Kisumu, diesel will cost Ksh179.89, and kerosene will cost Ksh175.68.
In other areas of Marsabit County, such as Laisamis, Merille, and Korr, super gasoline costs more than Ksh200 per liter.
EPRA Announces July 2023 Fuel Prices Despite Finance Act Suspension
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