The Energy and Petroleum Regulatory Authority (EPRA) has today announced the prices of fuel to be in effect for one month from August 15th to September 15th, 2024. The cost of petrol, diesel, and kerosene will remain unchanged until the end of the period, as it was in the last review.
In Nairobi, the cost of super petrol will retail at Ksh188.84 per liter. Diesel and kerosene will remain unchanged at Ksh171.60 per liter and Ksh161.75 per liter, respectively.
“In accordance with Section 101(y) of the Petroleum Act 2019 and Legal Notice No. 192 of 2022, the Energy & Petroleum Regulatory Authority (EPRA) calculated the maximum retail prices of petroleum products, which will be in force from 15th August, 2024 to 14th September, 2024. In this period under review, the maximum allowed petroleum pump price for Super Petrol, Diesel, and Kerosene remains unchanged,” EPRA said in a statement.
The regulatory body indicated that the cost of fuel will remain unchanged due to a slight fall in the landing cost of fuel imports.
In a statement, the regulatory body indicated that the landing cost of imported “Super Petrol decreased by 1.06% from US$716.03 per cubic metre in June to US$706.47 per cubic metre in July.”
Additionally, in the same period, the landing cost for imported “Diesel increased by 1.62% from US$682.73 per cubic metre to US$693. ” Kerosene, however, “increased by 1.87% from US$692.80 per cubic metre to US$706.74 per cubic meter.”
Court Ruling on the Finance Act 2023
The body, however, has said that “the prices are inclusive of the 16% Value Added Tax (VAT), which is in line with the provisions of the Fiance Act 2023 “
The 16% VAT on fuel prices is out of line the Court of Appeal ruling on the Finance Act, 2023 in July, 31 2024 after months of waiting. The judges obviated an appeal by parliament, noting that the process leading to the enactment of the Finance Act 2023 was done in violation of the Constitution and without public participation.
“Accordingly, we hereby issue a declaration that the enactment of the Fe Act 2023 violated Articles 220 (1)(a) and 221 of the Constitution as read with sections 37, 39A, and 40 of the PFMA, which prescribe the budget-making process, thereby rendering the ensuing Finance Act 2023 fundamentally flawed and therefore void ab initio and consequently unconstitutional,” Justices Kathurima M’Inoti, Agnes Murgor, and John Mativo declared.
