Fuel prices to remain unchanged for the next 30 days
The prices of petrol, diesel and kerosene will remain unchanged in Kenya for the next 30 days despite the decrease in global crude oil prices.
According to the latest review, the Energy and Petroleum Regulatory Authority (Epra) the prices will be effective from February 15, 2023 to March 14, 2023.
The regulator said it will retain the current prices despite the landing cost of imported super petrol decreasing by 0.12 per cent, kerosene 4.76 per cent and diesel decreasing by 5.10 per cent in December 2022.
In a press statement, Epra said the cost of a litre of petrol will retail at Sh177.3 per liter, diesel Sh162 and kerosene Sh145.94 in Nairobi.
“In accordance with Section 101(y) of the Petroleum Act 2019 and Legal Notice No.192 of 2022, Epra has calculated the maximum retail prices of petroleum products which will be in force from 15th Jan 2023 to 14th Feb 2023,” Epra said the statement.
“In the period under review, the maximum allowed petroleum pump prices for Super Petrol, Diesel and Kerosene remain unchanged.”
According to Epra, 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.
In December 2022 and January 2023, the prices were retained.
In November, Epra handed Kenyans marginal relief at the pump by cutting fuel prices by Sh1, following a similar reduction in October. The regulator said the price reduction followed a drop in landed cost for imported fuel products, which fell by up to 9 per cent.
President William Ruto dropped the fuel subsidy of his former boss Uhuru Kenyatta, arguing that the subsidies were unsustainable.