EPRA announces Increase in  Fuel Prices in its latest monthly review

EPRA announces Increase in Fuel Prices in its latest monthly review

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BY JOAN WANJIKU,NAIROBI,14TH MAY,2021-The Energy and Petroleum Regulatory Authority (EPRA) released the fuel prices for the period starting May 15 to June 14.

EPRA increased the price of Petrol by Ksh3.56 and retained the April prices for Diesel and Kerosene.

Fuel, therefore, retails at Petrol Kshs126.37, Diesel at Kshs107.66 and Kerosene at Kshs97.85 in Nairobi.

Prior to the changes, the fuel prices had remained unchanged from March 14 to May 14, where Petrol retailed at Kshs.122.81, Diesel at Kshs.107.66 and Kerosene at Kshs.97.85 in Nairobi.

In Mombasa Petrol will be sold at Ksh123.95, Diesel at Ksh105.27 and Kerosene at Ksh95.46.

Nakuru motorists will buy Petrol, Diesel and Kerosene at Ksh125.98, Ksh107.55 and Ksh97.76.

Eldoret traders will sell Petrol, Diesel and Kerosene at Ksh126.90, Ksh108.46 and Ksh98.68.

EPRA explained that the average landing cost of imported Super Petrol decreased by 0.57 percent from $491.50 per cubic metre in March 2021 to $488.69 per cubic metre in April 2021.

Diesel decreased by 1.03 percent from $444.17 per cubic metre to $439.60 per cubic metre. Kerosene increased from 2.01 percent per cubic metre to $430.40 per cubic metre.

“The prices are inclusive of the 8% Value Added Tax (VAT) in line with the provisions of the Finance Act 2018, 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 agency added.

In April 2021, officials from the National Treasury, Ministry of Energy, and the Energy and Petroleum Regulatory Authority (EPRA) cushioned motorists from hiked fuel prices.

State House and the National Intelligence Service were reportedly leaning towards deflecting public pressure and anger after EPRA increased prices in the past months.

“We made a late decision to cut the suppliers margin and offer millions of motorists a relief. This was more of a political decision than an economic one because public anger has been mounting,” an official who attended the meeting disclosed.

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