Relief for motorists as fuel prices drop, kerosene goes up
The Energy and Petroleum Regulatory Authority (EPRA) has announced new price changes of petrol, diesel and kerosene in its June 15 to July 14, 2023 cycle.
During this period, there will be a decrease in the maximum retail price of a litre of super petrol and diesel by Sh0.66 and Sh1.22 respectively while kerosene prices will see an increase of Sh0.35 per litre.
As a result of these adjustments, petrol prices in Nairobi will now retail at Sh182.04, while diesel has dropped to Sh167.18. The price of 1 litre of Kerosene will retail at Sh161.48.
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In Mombasa, petrol will retail at Sh179.2, diesel at Sh164.35 and kerosene at Sh158.65 per litre.
In the previous monthly review for May 2023, super petrol rose by Sh3.40 per litre, diesel by Sh6.40 per litre and kerosene by a substantial amount of Sh15.19 per litre.
Furthermore, EPRA also announced the removal of the subsidy on diesel and kerosene.
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The prices mentioned above are inclusive of the 8 per cent Value Added Tax (VAT) in accordance 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.
According to EPRA’s press release, the landing cost of super petrol decreased by 1.09 per cent in April 2023, diesel witnessed a slight increase of 0.83 per cent while kerosene dropped by 1.13 per cent.
These fluctuations in fuel prices are likely to have an impact on consumer goods, businesses and the overall economy of the country.
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