Fuel prices rose to a historic high on Sunday after the complete removal of a subsidy that had cushioned Kenyans, setting the stage for a spike in the cost of living.
In a statement on Sunday, EPRA’s Director General Daniel Bargoria said that the increase is attributable to the average cost of imported refined petroleum products which has seen the landing cost of imports varying in prices.
The upward revision in the cost of all three fuel products now sends the cost of super petrol in the Capital Nairobi to Ksh.182.70 for Petrol prices per litre, while Diesel and Kerosene have increased to Ksh.168.40 and Ksh.161.13 respectively.
However, the subsidy on Diesel and Kerosene has been removed.
“The fuel prices are inclusive of the 8% Value Added Tax (VAT) in line with the provisions of the Finance Act 2018, the Tax Laws (Amendment) Act 2020 and the revised rates for excise duty adjusted for inflation as per Legal Notice No. 194 of 2020,” EPRA said in a notice.
