Fuel prices drop by sh1.
Relief for motorists as fuel prices drop by sh1. Prices for a litre of Super petrol was dropped to Ksh178 from Ksh179.30. Diesel will now retail at Ksh163 from Ksh165 while Kerosene was dropped to Ksh146 from Ksh147.94.
The new prices took effect Midnight, 0ctober 14th.
EPRA stated,”Taking into account the weighted average cost of imported refined petroleum products and in line with Government policy, the changes in the maximum allowed petroleum pump prices in Nairobi are as follows: Super Petrol, Diesel and Kerosene decrease by Kshs1 per litre, Kshs2 per litre and Kshs1 per litre respectively.”
“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,” EPRA added.
The energy and petroleum agency further explained that maintenance of the fuel subsidy has contributed in the fuel drop
EPRA stated,”A subsidy of Kshs18.15 per litre and Kshs27.47 per litre has been maintained for Diesel and Kerosene respectively in order to cushion consumers from high prices.”
“The Government will utilise the Petroleum Development Levy to compensate oil marketing companies for the difference in cost,” EPRA added.
This comes after the opposition leader, Raila Odinga commended the former president, Uhuru Kenyatta for always finding a way to protect Kenyans, including putting up the subsidies.
Raila stated,”Every time they were blaming Uhuru but he was trying like other heads of state worldwide. Uhuru protected Kenyans from the effects of the Russian invasion of Ukraine. But now they have said that it is unsustainable, this week the price of fuel will go up again.”