The Energy and Petroleum Regulatory Authority (EPRA) has brought welcome news to Kenyan motorists and households with a significant reduct...
The Energy and Petroleum Regulatory Authority (EPRA) has brought welcome news to Kenyan motorists and households with a significant reduction in fuel prices, effective from midnight on April 14th. In its latest review, EPRA announced reductions across the board, with Super Petrol, Diesel, and Kerosene prices decreasing by Sh5.30, Sh10.00, and Sh18.68 per litre respectively. As a result, consumers can expect to pay Sh193.84, Sh180.38, and Sh170.06 per litre for these products over the next month.
These prices are inclusive of the 16% Value Added Tax (VAT) as stipulated by the Finance Act 2023 and the Tax Laws (Amendment) Act 2020. Additionally, the rates for excise duty have been adjusted for inflation.
“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,” EPRA affirmed.
While the specific reasons behind the reduction in fuel prices were not explicitly outlined by EPRA, recent statements from prominent figures in Kenyan politics shed light on the anticipation of such an announcement. President William Ruto, speaking in Nyeri, hinted at a forthcoming decrease in fuel prices, emphasizing the positive impact it would have on the cost of living.
“Today the price of Unga which was Sh200 is almost hitting Sh100, the shilling has strengthened against the dollar,” President Ruto remarked.
“Fuel prices were up but today it is going down with Sh10. All this is because we are making the right decisions and not popular decisions.“
Government spokesperson Isaac Mwaura echoed this sentiment, attributing the drop in fuel prices to the government’s efforts to improve the living standards of Kenyans.
“A major announcement on the reduction of fuel prices shall be made today at 3:00 pm by the Energy and Petroleum Regulatory Agency (EPRA)! This will go a long way in reducing the cost of living in the country for hustlers and Kenyans at large!” Mwaura wrote on X.
The reduction in fuel prices comes as welcome relief for many Kenyan households, particularly amidst concerns about the rising cost of living. The new fuel prices will remain in effect until May 14th, 2024.
By Vivian K.
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