EPRA Retains Fuel Prices For January

The Energy and Petroleum Regulatory Authority (EPRA) has announced that the fuel prices for the period between January 15 to February 14 will be unchanged.

Super Petrol, Diesel and Kerosene will remain at Ksh177.30, Ksh162 and Ksh145.94, respectively, in Nairobi.

The new prices will take effect from Saturday, January 14 at midnight.

"The prices are inclusive of the 8 per cent Value Added Tax (VAT) in line with the provisions of the Finance Act 2018, 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.

New fuel prices as announced by EPRA on January 14, 2023. /VIRALTEAKE

The price of diesel has been cross-subsidized with that of Super Petrol while a subsidy of Ksh25.13/litre has been maintained for Kerosene in order to cushion consumers from the otherwise high prices.

EPRA added that the government will utilise the Petroleum Development Levy to compensate oil marketing companies for the difference in cost.

Motorists in Mombasa will pay Ksh174.98 for Super Petrol, Ksh159.76 for Diesel, and Ksh143.69 for Kerosene per litre. Those in Nakuru will pay Ksh176.62 for Super Petrol, Ksh161.83 for Diesel, and Ksh145.79 for Kerosene per litre.

Motorists in Eldoret will part with Ksh177.50 for Super Petrol, Ksh162.72 for Diesel, and Ksh146.67 for Kerosene per litre.

"The purpose of the Petroleum Pricing Regulations is to cap the retail prices of petroleum products which are already in the country so that importation and other prudently incurred costs are recovered while ensuring reasonable prices to consumers.

"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," EPRA added.

The government agency had previously noted that November 2022's drop in fuel prices was occasioned by the maintenance of fuel subsidies for Diesel and Kerosene.

Super Petrol, Diesel and Kerosene were reduced by Ksh1 to retail at Ksh177.30, Ksh162 and Ksh145.94, respectively, in Nairobi, and have been so to date.

"A subsidy of Kshs18.15 per litre and Kshs27.47 per litre has been maintained for Diesel and Kerosene respectively in order to cushion consumers from the high prices.

"The Government will utilise the Petroleum Development Levy to compensate oil marketing companies for the difference in cost," EPRA explained.

During his speech on Tuesday, September 13 after he was sworn in as Kenya's fifth Head of State, President William Ruto planned to end the fuel subsidy, arguing that taxpayers spent a total of Ksh144 billion, a whooping Ksh 60 billion in a period of four months.