Information reaching Kossyderrickent has it that EPRA has revised the price of Super Petrol, Kerosene and Diesel by KSh9.90 per litre effective midnight. (Read More Here).
EPRA confirms:
"In accordance with Section 101(y) of the Petroleum Act 2019, Legal Notice No.196 of 2010 and Legal Notice No. 26 of 2012, EPRA Kenya has calculated the maximum retail prices of petroleum products which will be in force from 15th April to 14th May 2022.
"In the period under review, the pump prices of Super Petrol, Diesel and Kerosene increase by KShs 9.90 per litre respectively. The Government will utilise the Petroleum Development Levy (PDL) to cushion consumers from the otherwise high prices. In Nairobi, Super petrol will retail at a subsided cost of Kshs. 144.62, Diesel Kshs. 125. 50 and Kerosene kshs. 113. 44.
"The 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."
The government has termed the shortage as artificial and cited some oil marketers for giving priority to the export market as the local market suffers.
The stand off culminated in the deportation of Rubis CEO Jean Bergeron on Wednesday
Earlier, on Thursday, Energy and Petroleum CS Monica Juma warned oil firms against what she termed as economic sabotage.
"This government will not tolerate any entity or person causing distress or creating an artificial problem. Any entity not ready, able or willing to work within the framework of the laws of Kenya is invited to vacate this market promptly," she added.
She said the government had held numerous meetings with oil marketers to address any concerns and offered firm assurances to honour any payment obligations in hopes that the situation would self-correct. However, she said, the crisis still continued.
"We have decided as government that this isn't acceptable. This is deliberate economic sabotage and a capital crime."
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