Reprieve as EPRA reduces petrol prices by Sh5, diesel Sh4
On Thursday, the Energy Petroleum and Regulatory Authority (EPRA) revealed the fresh fuel rates applicable from December 15 of the current year to January 14, 2023.
In the most recent assessment, the price of petrol went down by Ksh5, diesel by Ksh2, and kerosene by Ksh4.01. Consequently, drivers in Nairobi will now be charged Ksh212.36 per liter for petrol, Ksh201.47 for diesel, and Ksh199.05 for kerosene.
“The prices are inclusive of the 16% 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 Legal Notice No. 194 of 2020,” EPRA announced.
Previously the prices stood at Ksh217.36, Ksh203.47, and Ksh203.06 for petrol, diesel, and kerosene respectively.
Besides Nairobi, motorists in other cities will also enjoy a decrease in prices with motorists in Kisumu parting with Ksh212.12 for petrol, Ksh201.64 for diesel, and Ksh199.23 for kerosene.
Those in Mombasa will be charged Ksh209.3 for petrol, Ksh198.41 for diesel, and Ksh195.92 for kerosene. Meanwhile, Nakuru motorists will pay Ksh211.35, Ksh200.88, and Ksh198.46 for petrol, diesel and kerosene respectively.
Moreover, in Eldoret, individuals will need to pay Ksh212.12 for petrol, Ksh201.65 for diesel, and Ksh199.23 for kerosene.
EPRA reported that in November, the import cost of petrol dropped by 16.11%, diesel by 5.43%, and kerosene by 6.63%, resulting in a reduction in fuel prices.
“The price of diesel has been cross-subsidized with that of super petrol to further cushion the economy, the government has opted to stabilise the resultant diesel price. Government through the National Treasury has identified resources within the current resource envelope to compensate Oil Marketing Companies,” EPRA announced.
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This follows a period in which Kenyans have been struggling with rising prices consistently throughout the year, culminating in October when petrol prices hit a record high of Ksh217.36 per liter.
The increased fuel costs within the nation have sparked inquiries, especially with other countries such as Tanzania noting a decline in response to the global market’s reduced prices.
In the interim, efforts aimed at reducing prices, like the Kenya-Saudi Arabia Government to Government agreement, have not yielded success. Oil marketers cite the depreciation of the Shilling as the main factor contributing to the difficulties encountered.
Previously, Energy Cabinet Secretary Davis Chirchir suggested that the prices might exceed the Ksh300 threshold because of the conflict between Israel and Palestine.
Transport Cabinet Secretary Kipchumba Murkomen advocated for raising the road maintenance fee from Ksh18 to Ksh23, a move anticipated to result in elevated fuel costs.
Reprieve as EPRA reduces petrol prices by Sh5, diesel Sh4