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By Victor MUJIDU
The cost of fuel in the country will remain unchanged as the upsurge hits its fourth month since December 15.
The Energy and Petroleum Regulatory Authority (EPRA) announced Tuesday that the price of super petrol will remain at Sh177.30, diesel at Sh162, and kerosene at Sh145.94 per liter.
“In accordance with Section 101(y) of the Petroleum Act 2019 and Legal Notice No.192 of 2022, EPRA has calculated the maximum retaipercent of petroleum products which will be in force from February 15, 2023, to March 14, 2023,”
“In the period under review, the maximum allowed petroleum pump prices for Super Petrol, Diesel, and Kerosene remain unchanged,” reads part of the EPRA statement.
EPRA said the prices are inclusive of the 8 percent 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.
“The price of diesel has been cross-subsidized with that of super petrol, while a subsidy of Sh19.41 per litre has been maintained for kerosene in order to cushion consumers from the otherwise high prices,” EPRA stated.
The fuel price hike has continued to depreciate the local currency, pushing up the cost of living in the country.