EPRA defies court order on suspension of Finance Act as it increases fuel prices
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Fuel prices increase as EPRA revises costs upward despite a court order suspending the Finance Act 2023
Fuel prices increase as EPRA revises costs upward despite a court order suspending the Finance Act 2023.
Kenyans will continue to pay more at the pump as a result of the Energy and Petroleum Regulatory Authority’s (EPRA) massive Ksh.13.49 hike on super gasoline, which brought the cost of gasoline to a record Ksh.195.53.
The move by EPRA to amend the Value Added Tax (VAT) requirement on fuel from 8% to 16% is in direct defiance of a High Court ruling that barred the implementation of the contentious Finance Act, 2023.
In Nairobi, the new prices will retail as follows; super petrol Ksh195.53 per litre, diesel Ksh179.67 and kerosene Ksh173.44 per litre.
“Pursuant to the Finance Act, 2023, the Value Added Tax (VAT) on Super Petrol, Diesel, and Kerosene have been revised from 8 to 16 percent effective July 1, 2023.
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“Accordingly, the Energy Petroleum Regulatory Authority (EPRA) has recalculated the maximum pump prices that will be in force from July 1 to July 14, 2023, taking into account VAT at 16 percent,” read part of the statement by EPRA.
The country’s cost of living is anticipated to significantly be affected by the increase in fuel prices given the rate of inflation.
Critical sectors such as manufacturing, transport, and distribution will be affected by the increase in fuel prices.
The price change by EPRA comes immediately after Lady Justice Mugure Thande ruled to suspend the implementation of the Finance Act until the 5th of next month when the matter is expected to be heard in court.
The ruling followed a petition tabled by Busia Senator Okiya Omtatah challenging the Finance Act, 2023 seeking to have some sections of the law purged.
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