EPRA Reduces Prices of Petrol and Diesel
EPRA Reduces Prices of Petrol and Diesel: In the period under review, the maximum allowed petroleum pump price for Super Petrol, Diesel and Kerosene decrease by KShs.1.00, KShs.1.50 and KShs.1.30 per litre respectively.
EPRA Stated,”In accordance with Section 101(y) of the Petroleum Act 2019, Legal Notice No. 196 of 2010 and Legal Notice No. 26 of 2012, we have calculated the maximum retail prices of petroleum products, which will be in force from 15th July 2024 to 14th August 2024.”
The prices are inclusive of the 16% Value Added Tax (VAT) in line with the provisions of the Finance Act 2023, the Tax Laws (Amendment) Act 2020 and the revised rates for excise duty adjusted for inflation as per Legal Notice No. 194 of 2020.
The average landed cost of imported Super Petrol decreased by 4.65% from US$750.95 per cubic metre in May 2024 to US$716.03 per cubic metre in June 2024; Diesel decreased by 1.19% from US$690.99 per cubic metre to US$682.73 per cubic metre while Kerosene increased by 2.01% from US$679.14 per cubic metre to US$692.80 per cubic metre.