According to the new changes, the price of petrol will decrease by Sh0.85 while as kerosene decreases by Sh3.96.
In the new prices, Petrol will retail at Sh194.68, diesel prices remain constant retailing at Sh179.67 and kerosene will go for 169.48 per litre.
The Energy and Petroleum Regulatory Authority (EPRA) said the maximum retail pump prices will be in force from today Saturday, July 15 to August 14, 2023.
This comes two weeks after the EPRA defied High Court orders by increasing the prices in line with the 16 per cent VAT proposed in the 2023 Finance Act.
On July 1, EPRA increased the price of petrol by 13.49, diesel by Sh12.39 and kerosene by Sh11.96 although the Court had temporarily suspended implementation of the proposed increment.
“Under the Finance Act, 2023, the VAT on Super Petrol (PMS), Diesel (AGO) and Kerosene (IK) has been revised from 8 per cent to 16 per cent effective 1 July 2023. EPRA has recalculated the maximum pump prices that will be in force from 1st July to 14th July 2023 taking into account VAT at 16 per cent,” said EPRA.
This was after the High Court on June 30, suspended the Finance Act 2023, which houses the doubling of VAT on fuel.
