Pain at the pump as fuel prices increase in latest EPRA review
Kenyans will be forced to dig deeper into their pockets after the Energy and Petroleum Regulatory Authority (EPRA) announced an increase in fuel prices.
In a statement shared on Saturday, October 14, 2023, EPRA announced that the adjusted prices set to take effect on Sunday, October 15, 2023, will see the prices of Super Petrol increase by Ksh5.72 per litre, Diesel by Ksh4.48 per litre and Kerosene by Ksh2.45 per litre.
Following the increment, the price of Super Petrol will be Ksh217.36, Diesel will retail at Ksh205.47 whereas Kerosene will cost Ksh205.06.
"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 statement reads in parts.
In accordance with Section 101(y) of the Petroleum Act 2019 and Legal Notice No.192 of 2022, @EPRA_Ke has calculated the maximum retail prices of petroleum products, which will be in force from 15th October 2023 to 14th November 2023.^DC pic.twitter.com/XdVWrg02j7
— Energy and Petroleum Regulatory Authority (@EPRA_Ke) October 14, 2023
The latest price adjustment follows a stabilisation process by the government in a move meant to cushion Kenyans already struggling to survive the lean times.
According to EPRA, the fuel prices would have increased by Ksh8.79 for a litre of Petrol, Ksh16.12 for diesel and Ksh12.05 for a litre of kerosene if not for the stabilisation which will be funded by the Petroleum Development Levy (PDL).
