Sunday, May 26, 2024

Pump prices of Super Petrol and Diesel decrease by Ksh 5

Energy and Petroleum Regulatory Authority (EPRA) has confirmed a reduction of pump prices for Super Petrol, Diesel and Kerosene by Ksh 5, Ksh 5 and Ksh 4.82 per litre respectively.

The prices which are inclusive of 16% VAT will be in place for the next 30 days before another review is done by EPRA.

“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 𝐉𝐚𝐧𝐮𝐚𝐫𝐲 𝟐𝟎𝟐𝟒 to 𝟏𝟒𝐭𝐡 𝐅𝐞𝐛𝐫𝐮𝐚𝐫𝐲 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.5.00, Kshs.5.00 and KShs.4.82 per litre respectively.

In Nairobi, Super Petrol, Diesel and Kerosene will now retail at Kshs.207.36, 196.47 & 194.23 effective midnight for the next 30 days.” said EPRA

The news will surely be welcomed by Kenyans who have been calling for a decrease in pump prices citing it as the number one reason for the rise in the cost of living in the country.

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