EPRA reduces petrol price by Sh0.85

By Peter Ochieng

The price of a litre of super petrol and kerosene has gone down by various margins.

According to the latest review by the Energy and Petroleum Regulatory Authority (EPRA), a litre of petrol has gone down by Sh0.85, a litre of kerosene has reduced by Sh3.96 while the price of diesel remains unchanged.

As such, petrol will now retail at Sh194.68 per litre, while a litre of kerosene is now retailing at Sh169.48.

A litre of diesel remains unchanged, at Sh179.67.

EPRA in a statement said the prices are inclusive of the 16 per cent Value Added Tax (VAT) on petroleum products, as stipulated in the Finance Act, 2023.

“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 prices will be operational until a new review is done on 14th August, 2023.

“In accordance with Section 101(y) of the Petroleum Act 2019 and Legal Notice No.192 of 2022, the Energy & Petroleum Regulatory Authority (EPRA) has calculated the maximum retail prices of petroleum products which will be in force from 15th July 2023 to 14th August 2023."

Last month, the prices of a litre of diesel, kerosene and petrol went up by over Sh10.