The Energy and Petroleum Authority (EPRA) in its latest monthly reviews has announced an increase in the price of petrol by Sh. 2
In a statement released on Tuesday 13th 2023, the price of Petrol is expected to rise from SH. 177.3 to SH. 179.20 per liter in Nairobi. According to the statement, the price of diesel and Kerosene will remain at SH. 162 and SH. 145.95 per liter respectively.
“In the period under review, the maximum allowed petroleum pump price of Super Petrol increases by SH. 2.00 per liter while that of Diesel and Kerosene remain unchanged,” read the statement in part.
The EPRA Also explained that the prices are inclusive of tax in line with Financial Acts and Tax laws.
“The prices are inclusive of the 8% 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,” read the statement
According to the Authority, the price of diesel was cross subsidized with that of super petrol. For kerosene, its subsidy was maintained at 24. 49 per liter to cushion the consumers.
“The Government will utilize the Petroleum Development Levy to compensate oil marketing companies for the difference in cost,” EPRA assured.
The move comes after the Cabinet secretary for Petroleum Davis Chirchir announced a collaboration with a Saudi Arabian company to supply oil to the country for six months.
The new prices are effective starting from 15th March to 14th April this year.
