KRA LATEST TAXES ON NEW FUEL PRICES 2022The Energy and Petroleum Regulatory Authority (EPRA) on Wednesday, June 14, announced the release of new fuel prices that would come into effect from midnight onwards.

According to the new review, the price of a liter of super petrol has been reduced by Ksh0.66, resulting in a new retail price of Ksh182.04. On the other hand, Diesel will see a reduction of Ksh1.12, bringing the retail price to Ksh167.28.

The price of Kerosene has however increased by Sh0.35 to retail at Ksh161.48.

“Taking into account the weighted average cost of imported refined petroleum products, the changes in the maximum allowed petroleum pump prices in Nairobi are as follows: Super petrol and diesel decrease by Kshs.0.66 per litre and Kshs.1.12 per litre respectively while Kerosene increases by Kshs.0.35 per litre,” EPRA said in a statement.

The revised fuel prices are applicable from June 15 to July 14, 2023.

EPRA noted that the fuel prices include the 8% Value Added Tax (VAT) in compliance with the provisions of the Finance Act of 2018.

“The purpose of the Petroleum Pricing Regulations 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.

“EPRA wishes to assure the public of its continued commitment to the observance of fair competition and protection of the interests of both consumers and investors in the energy and petroleum sectors,” the Authority said.