Fuel prices remain unchanged in latest EPRA review
Fuel prices will remain unchanged for the next one month.
This is in accordance with this month’s review of the prices by the Energy and Petroleum Regulatory Authority (EPRA).
“In the period under review (January 15 to February 14, 2023), the maximum allowed petroleum pump prices for Super Petrol, Diesel and Kerosene remain unchanged,” the authority said in a statement on Saturday.
This is the second month in a row fuel prices have remained unchanged after the prices dropped marginally by Sh1 during the November 14 price review.
A litre of Super Petrol will continue retailing at Sh177.30, Diesel at Sh162 while Kerosene will sale at Sh145.94 per litre in Nairobi.
The Authority said diesel prices have been cross subsidised with that of super petrol.
This means the government has charged one commodity higher to artificially lower the price of the other.
“A subsidy of Sh25.13 per litre has been maintained for kerosene in order to cushion customers from the otherwise high prices,” EPRA said.
The prices are inclusive of the 8 per cent VAT in line with the provisions of the Finance Act 2018, the Tax Laws Act 2020 and the revised rates for excise duty adjusted for inflation as per Legal Notice No 194 of 2020.
EPRA further said the government will utilise the Petroleum Development Levy to compensate oil marketers for the difference in cost.