Super Petrol prices decrease by Ksh.9.54 per litre
Super Petrol and Diesel prices have decreased by Ksh.9.54 per litre and Ksh.19.19 per litre respectively.
In its monthly review, the Energy and Petroleum Regulatory Authority (EPRA) however announced a price increase for Kerosene by Ksh. 2.49 per litre.
“No kerosene cargo was discharged at the port of Mombasa between April 10 and May 9 2020 and therefore the prevailing kerosene price has been maintained but with adjustments in VAT calculations,” EPRA noted in a statement Thursday.
Kenyans were set in for a greater relief to fuel costs but for the introduction of levies and other duties as part of the VAT calculations for petroleum productions through recent tax laws amendments.
“The computation of the pump prices has taken into account the changes effected by the Tax Laws (Amendment) Act of 2020 that made taxes and other levies part of the vatable amount in the calculation of VAT for petroleum products,” added EPRA.
Consumers have therefore missed out on the full quota of relief from the further contraction of global oil prices during the month of April.
eGlobal crude prices stood at decades low in mid-April with prices for some future contracts seeking into the negative to see producers paying buyers to get rid of surplus stocks emerging from a slowdown in demand.
The cut to new pump prices in Kenya are however the sharpest in 13 years offsetting of the introduction of levies to taxation.
A litre of petrol will now retail at Ksh 83.33 in Nairobi while diesel and kerosene will retail at Ksh.78.37 and Ksh.79.77 respectively.
Last month, diesel users had missed out on relief with no new stocks of the commodity landing in the country during the month of March.
High taxes on petroleum prices continue to stop Kenyans from enjoying the full relief of low global prices and leaves costs up for consumers.
Nearly 50 percent of fuel costs per litre amount to taxes and other levies.