The Energy and Petroleum Regulatory Authority on Thursday 14th September 2023, announced new petroleum products prices. In a press statement titled “Maximum Retail Prices in Kenya for the period 15th September 2023 to 14th October 2023” EPRA noted that they have calculated the maximum retail prices of petroleum products and the new prices will be in force from the 15th of September to the 14th of October 2023. In the statement EPRA noted that the maximum allowed petroleum pump prices in Nairobi are as follows: Super Petrol increases by 16.96 Kenya Shillings, Diesel increases by 21.32 Kenya Shillings per liter and Kerosene increases by 33.13 per liter.
Now super petrol, Diesel and kerosene will retail at 211.64, 200.99 and 202.61 Kenya shillings respectively in Nairobi effectively 15th September 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.
“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 September 2023 to 14th October 2023.
“Taking into account the weighted average cost of imported refined petroleum products, the changes in the maximum allowed pump prices in Nairobi are as follows: Super Petrol increases by Kshs. 16.96, Diesel increases by Kshs. 21.32 per liter and Kerosene increases by Kshs. 33.13 per litre.
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 average landed cost of imported Super Petrol increased by 4.80% from US$739.21 per cubic metre in July 2023 to US$774.67 per cubic metre in August 2023, Diesel increased by 12.52% from US$701.99 per cubic metre to US$789.89 per cubic metre while Kerosene increased by 19.79% from US$690.58 per cubic metre to US$827.26 per cubic metre.”