EPRA will be announcing new fuel prices on Friday in response to the implementation of a 16% Value-Added Tax (VAT) on petroleum products. The Finance Act, 2023, which was recently passed, introduced this tax rate change.
EPRA, in a notice, stated that on June 30, 2023, they will release the revised petroleum prices in compliance with the Finance Bill, 2023, after H.E. President Dr. William Ruto signed it into law on June 26, 2023. Prior to this, petroleum products were subject to an 8% VAT.
This announcement comes approximately two weeks after EPRA had already unveiled new fuel prices for the period of June 15 to July 14, 2023.
On June 14, the Authority had communicated that the price of super petrol had decreased by Sh0.66, retailing at Sh182.04, while diesel experienced a reduction of Sh1.12, retailing at Sh167.28 in Nairobi. Conversely, the price of kerosene had increased by Sh0.35, retailing at Sh161.48.
