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Fuel prices up in new EPRA adjustment

BUSINESS
By Fredrick Obura | July 14th 2020

NAIROBI, KENYA: The Energy and Petroleum Regulatory Authority (EPRA) has increased significantly the price of petroleum products effective at midnight.

Taking into account the weighted average cost of imported refined petroleum products, it has increased super petrol, diesel, and kerosene prices by Sh11.38, Sh17.30, and Sh2.98 per litre respectively.

The prices are inclusive of the revised rates for Petroleum development levy on super petrol, diesel and 8 per cent value-added tax in line with the provisions of the Finance Act 2018 and the tax laws amendment act 2020.

“In the period under review, there was no Kerosene discharged at the Port of Mombasa. Accordingly, the prevailing Kerosene price has been maintained but adjusted for the under-recovery of Value added tax by oil marketing companies that occurred in the previous cycle,” says Pavel Oimeke EPRA Director-General.

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