EPRA adjusts Fuel Prices  By Sh10 In Latest Review  further compounding the already difficult economic times

EPRA adjusts Fuel Prices By Sh10 In Latest Review further compounding the already difficult economic times

 BY JOAN WANJIKU,NAIROBI,14TH APRIL,2022-Fuel prices in Kenya are set to rise by Sh 10 further adding the pain for motorists who for the past few days have struggled with fuel shortage .Under the new prices issued by the Energy and Petroleum Regulatory Authority(EPRA), Super petrol, Diesel and kerosene will retail at Sh144. 62, Sh 125.50 and Sh113.44 respectively.

EPRA DG Daniel Kiptoo said the government will chip in with the petroleum development levy to cushion Kenyans from the otherwise high prices.

He said oil marketers will be compensated Sh29.08 per litre of petrol, Sh40.24 per litre of diesel and Sh26.45 for kerosene.

With the absence of the petroleum development levy,  Super petrol and Diesel were to retail at Sh173 and Sh144. 62 respectively.

“The prices are inclusive of the 8 per cent 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,” said EPRA.

According to the regulator, the average landed cost of imported Super Petrol increased by 20.47 per cent from USD 676.40 per cubic metre in February 2022 to USD 814.85 per cubic metre in March 2022 ; Diesel increased by 24.70 per cent from USD 677.31 per cubic metre to USD 844.57 per cubic metre while Kerosene increased by 11.84 per cent from USD 619.57 per cubic metre to USD 692.95 per cubic metre.

In Mombasa, a litre of petrol will retail at Sh142.36 while diesel will retail at Sh123.26.

In Kisumu, a litre of petrol will retail at Sh145.03, diesel at Sh126.2.

The fuel hike comes amid a biting shortage of fuel across the country that has seen motorists queue for hours to fill up their tanks.

Earlier, acting Petroleum Cabinet Secretary Monica Juma assured Kenyans that normal fuel supply would resume within 72 hours as oil marketers who were hoarding the product in anticipation of high prices release it for supply.

She termed the hoarding as criminal and amounts to economic sabotage.

EPRA DG Kiptoo said ten oil marketing companies have received show-cause letters and face possible cancellation of licenses over the hoarding of product.

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