Kenyans who heavily depend on fuel for their daily routines will now have to allocate more of their budgets to accommodate the increased fuel prices recently implemented by the government.
In a recent announcement made on Thursday evening, the Energy and Petroleum Regulatory Authority (EPRA) has upped the prices of key petroleum products. Super Petrol now sees an increase of Ksh16.96, Diesel has risen by Ksh21.32, and Kerosene has spiked by Ksh33.13.
As of September 15, these adjustments have pushed the cost per liter in Nairobi to Ksh211.64 for Super Petrol, Ksh200.99 for Diesel, and Ksh202.61 for Kerosene.
The rationale behind this surge, according to EPRA Managing Director Daniel Kiptoo, is primarily due to the escalating weighted average cost of imported refined petroleum products.
Kiptoo stated, “These prices include the 16% Value Added Tax (VAT) in accordance with the regulations stipulated in the Finance Act of 2023, the Tax Laws (Amendment) Act of 2020, and the revised excise duty rates adjusted for inflation as per Legal Notice No. 194 of 2020.”
Just last month, EPRA had maintained fuel prices at Ksh194.68 for Super Petrol, Ksh179.67 for Diesel, and Ksh169.48 for Kerosene. However, the anticipation of soaring international prices coupled with the recent ratification of a 16% Value Added Tax (VAT) on petroleum products had been a clear indicator that a price hike was imminent.
EPRA’s top official emphasized that the government had opted to implement these changes while considering the welfare of consumers, attempting to “stabilize” fuel prices in an effort to alleviate the burden on the public.
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