According to a review released by the Energy and Petroleum Regulatory Authority (EPRA), the price of Super Petrol in the country will remain the same at a high of Ksh.217 for the next month while the price of Diesel and Kerosene has slightly reduced by Ksh.2 per litre.
Diesel to retail at Ksh.203 while Kerosene at Ksh.203.06 in Nairobi.
“The prices are inclusive of the 16% Value Added Tax (TAX) 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,” said EPRA in a statement.
The authority notes that the new prices are as a result of an increase in the average landed cost.
In order to cushion consumers from the spike in pump prices as a consequence of the increased landed costs, the government says it has opted to stabilize pump prices for the November-December 2023 pricing cycle by compensating the oil marketing companies.
“The National Treasury has identified resources within the current resource envelope to compensate Oil Marketing Companies,” says EPRA.
Without the intervention to compensate the oil marketers, EPRA says Super Petrol would have retailed at Ksh.229.37 while diesel and kerosene would retail at Ksh.223.29 and Ksh206.70.
