EPRA Announces Increased Fuel Prices

File image of a petrol station
  • The Energy and Petroleum Regulatory Authority (EPRA) has released fuel prices for the period between September 15 and Octobe 14.

    In the pricing index released on Tuesday, September 14, 2021, EPRA noted that prices of petrol, diesel and kerosene had increased by as much as Ksh7 per litre for the next 30 days.

    The retail prices for petrol increased by Ksh 7.58 per liter to retail at Ksh 134.72 in Nairobi while diesel increased by Ksh7.94 to retail at Ksh115.

    Kerosene, on the other hand, had spiked by Ksh12.97 to retail at Ksh110.2.

    File image of a petrol station
    File

    The prices are inclusive of 8% Value Added Tax (VAT), in line with the provisions of the Finance Act 2018, The Tax Laws (Amendment) Act 2020, and the reviewed rates for excise duty that were adjusted for inflation as per Legal Notice No. 194 of 2020.

    For months, prices for the three fuel products had remained constant retailing at Ksh127.14 for petrol, Ksh107.66 for diesel and Ksh97.85 in Nairobi.

    In Mombasa, petrol will retail at Ksh132.46, diesel at Ksh113.36 while kerosene will sell at Ksh108.57.

    The increase represents a fluctuating barrel price globally which veered between US$50 (Ksh 5,000) and US$ 70 (Ksh 7,000).

    In August, Mining and Petroleum Chief Administrative Secretary (CAS) John Musonik explained that the state would maintain the monthly price of fuel largely due to the set up a Petroleum Development Fund (PDF).

    At the time, the state was aimed at cushioning Kenyans when the price per barrel crosses $50 (Ksh5,486) mark.

    Last month, a barrel of crude oil averaged at $63 dollars (roughly Ksh6,300).

    “From April, we have been using the fund. For now, we are going to stabilise the prices as we look at all the other components in the pricing,” stated Musonik

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  • Source: KENYAGIST.COM