The Energy and Petroleum Regulatory Authority (EPRA) announced new fuel pricing for the coming month on Tuesday, March 14.
According to the most recent monthly review, the price of super petrol in Nairobi would retail at Ksh179.3 per litre, up KSh.2 from the price on February 14.
The price of diesel and kerosene at the pump would remain unchanged at Ksh162 and Ksh145.95 per litre, respectively. The pricing is set to go into effect at midnight on Wednesday, March 15, 2023, and will last until April 14, 2023.
Initially, the price of super petrol in Nairobi was Ksh177.3 per litre.
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According to EPRA, the price of diesel has been cross-subsidized with that of Super Petrol while a subsidy of Ksh.23.49 per litre has been maintained for Kerosene in order to cushion consumers from otherwise high prices.
“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.” Read the statement in part.
EPRA also noted that the average landed cost of imported Super Petrol decreased by 0.06% from US$659.87 per cubic metre in January 2023 to US$659.47 per cubic metre in February 2023; Diesel decreased by 2.52% from US$779.49 per cubic metre to US$759.88 per cubic metre while Kerosene decreased by 1.51% from US$774.99 per cubic metre to US$763.28 per cubic metre.
The purpose of the Petroleum Pricing Regulations according to EPRA is to cap the retail prices of petroleum products which are already in the country so that importation and other prudently incurred costs are recovered while ensuring reasonable prices to consumers.
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