EPRA releases revised fuel prices; increases cost of kerosene
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EPRA slightly reduces fuel prices for June while at the same time inceasing the cost of kerosene
EPRA slightly reduces fuel prices for June while at the same time inceasing the cost of kerosene.
On June 14, the Energy and Petroleum Regulatory Authority (EPRA) issued fuel prices.
In the new review, a litre of super petrol was reduced by Ksh0.66 and will retail at Ksh182.04. Diesel, on the other hand, will retail at Ksh167.28 after being reduced by Ksh1.12.
Kerosene’s cost, however, went up by Ksh0.35 and will now sell for Ksh161.48 a litre for the following month.
“Taking into account the weighted average cost of imported refined petroleum products, the changes in the maximum allowed petroleum pump prices in Nairobi are as follows: Super petrol and diesel decrease by Kshs.0.66 per litre and Kshs.1.12 per litre respectively while Kerosene increases by Kshs.0.35 per litre,” read the statement in part.
In Mombasa, a litre of super petrol will retail at Ksh179.20 while diesel will be sold at Ksh164.45. A litre of Kerosene in the coastal county will go for Ksh158.65.
The authority added that the new prices also factored in the 8% Value Added Tax (VAT) as stipulated in the Finance Act 2018 and the Tax Laws (Amendment) Act 2020.
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“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,” read the statement in part.
In the May-June fuel price review, super petrol retailed at Ksh182.70 after an increase of Ksh3.40. Kerosene was the most affected with an increase of Kshs15.19 per litre – making it retail at Ksh161.13.
Kerosene, on the other hand, retailed at Ksh168.40 after an increase of Ksh6.40 per litre.
The increase in fuel prices in May was attributed to the removal of the subsidy that had been placed on diesel and kerosene.
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