The Energy and Petroleum Regulatory Authority (EPRA) has announced fuel prices for the period between February 15 and March 14.
In the announcement made by EPRA on Tuesday, February 14, the authority maintained fuel prices from the last period.
Petrol will retail at per litre Ksh129.72 at the pump, while diesel will retail at Ksh110.60 in Nairobi. On the other hand, Kerosene at Ksh103.54 as in the last period
Despite the increase in the landing costs of petroleum and diesel, the government maintained fuel prices for the fourth month in a row. This was enabled by the utilization of the Petroleum levy.
"The Government will utilise the Petroleum Development Levy to cushion consumers from the otherwise high prices.
"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 authority explained that the purpose of the Petroleum Pricing regulations is to cap the retail process of petroleum products so that importation and other prudently incurred costs are covered while ensuring reasonable prices for consumers.
EPRA set the maximum prices in Mombasa at Ksh127.46, Ksh108.36 and Ksh101.29 for petrol, diesel and kerosene respectively.
In Kisumu, the pump prices will remain constant at Ksh130.12 (Petrol), Ksh111.30 (Diesel) and Ksh104.26 (Kerosene).
Fuel prices in the country hit an all-time high in 2021 following the introduction of VAT on petroleum products. The tax was introduced by the government in a bid to recover money lost during a six month tax holiday.
Other factors in play were the barrel prices in the international market, the foreign exchange rate and the storage and transportation costs. However, the pump prices were revised downwards by Ksh5 amid public outcry.
