Thursday, July 25, 2024

EPRA reduces petroleum pump prices by Ksh 1

The Energy and Petroleum Regulatory Authority (EPRA) has reduced the pump prices of Super Petrol, Diesel and Kerosene by Ksh 1 for a period of one month.

“In accordance with Section 101(y) of the Petroleum Act 2019 and Legal Notice No.192 of 2022, EPRA has calculated the maximum retail prices of petroleum products, which will be in force from 𝟭𝟱𝘁𝗵 𝗙𝗲𝗯𝗿𝘂𝗮𝗿𝘆 𝟮𝟬𝟮𝟰 𝘁𝗼 𝟭𝟰𝘁𝗵 𝗠𝗮𝗿𝗰𝗵 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.

In the period under review, the maximum allowed petroleum pump price for Super Petrol, Diesel and Kerosene decrease by Kshs.1.00 per litre respectively. In Nairobi, Super Petrol, Diesel and Kerosene will now retail at Kshs.206.36, 195.47 & 193.23 effective midnight for the next 30 days.” said EPRA

The news has however received backlash from Kenyans who are calling for a huge decrease that will in turn lower the cost of living as fuel is the major determinant of the economy.

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