Nairobi, June 30th, 2023 – The Energy Petroleum Regulatory Authority (EPRA) has announced an amendment to the maximum wholesale and retail petroleum prices, effective from July 1st to July 14th, 2023.
This adjustment comes in response to the revised Value Added Tax (VAT) rates specified in the Finance Act, 2023, recently implemented by the government. As of July 1st, VAT on Super Petrol (PMS), Diesel (AGO), and Kerosene (IK) will be increased from 8% to 16%.
EPRA, in compliance with the new legislation, has recalculated the maximum pump prices for petroleum products, taking into account the revised VAT rate.
Consequently, the maximum allowed pump prices in Nairobi will experience significant increases.
Super Petrol will see a rise of KShs. 13.49 per liter, while Diesel will increase by KShs. 12.39 per liter, and Kerosene will see a surge of KShs. 11.96 per liter.
In Nyamira, price of Super Petrol is 195, diesel 180 and Kerosene 174.
In Kisii Town, price of Super Petrol is 196, Diesel 180, and Kerosene 174
The purpose of these Petroleum Pricing Regulations is to regulate the retail prices of petroleum products already present in the country.
By capping the prices, the government aims to ensure that importation and other incurred costs are adequately recovered while safeguarding fair prices for consumers.
Furthermore, EPRA emphasizes its commitment to fair competition and the protection of the interests of both consumers and investors within the energy and petroleum sectors.
Despite the price adjustments, the authority assures the public that it will continue to prioritize the provision of reasonable prices and maintain a competitive market.
In a separate development, a significant legal case concerning petroleum pricing took place at the High Court on June 30th, 2023.
The matter, presented before the Honourable Justice M. Thande, involved a Notice of Motion filed on June 29th, 2023.
The court session addressed the application, which sought conservatory orders related to the petroleum sector.
After considering the case, Justice M. Thande issued several directives.
Firstly, the court ordered the Application to be served upon all parties on June 30th, 2023.
Additionally, responses from the concerned parties are to be filed and served by July 4th, 2023.
The court expressed satisfaction that the Application met the requirements for conservatory orders, granting prayers 2 and 3 of the Application until July 5th, 2023. On this date, the case is scheduled for mention and further directions.
The petitioner in this matter is Senator Okiya Omtatah, who filed the legal petition. The High Court, represented by Lady Justice M. Thande, confirmed the rulings, signing and sealing the order on June 30th, 2023.
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