EPRA on Friday, January 14, announced that the cost of fuel will remain unchanged for the third month in a row.
Super petrol will retail at Ksh129.72 per litre in Nairobi, while diesel will retail at Ksh110.60 in Nairobi.
Kerosene prices will also trade at Ksh103.54, similar to the previous month.
In Mombasa, the cost of fuel will be maintained at Ksh127.46 for petrol, Ksh108.36 for diesel and Ksh101.29 for kerosene.
The statement issued by EPRA indicated that the price of fuel Kisumu will stay at Ksh130.12, Ksh111.30 and Ksh104.26 for petrol, diesel and kerosene respectively.
“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_Ke has calculated the maximum retail prices of petroleum products which will be in force from 15th January 2022 to 14th February 2022,” EPRA statement read in part.
“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,” it continued.
The cost of fuel in 2021 was a subject of debate after prices reached an all-time high in September. In the price index released on then, the pump prices increased by Ksh7 per litre, apart from kerosene that hiked by Ksh12.7.
However, following a public uproar, the government revised the costs downwards by Ksh5 in October of the same year. The cost of fuel remains a concern among Kenyans given that it determines the cost of other basic commodities.
Notably, the spike in fuel costs in 2021 is attributed to the introduction of value-added tax (VAT) on petroleum products. The introduction of the levy followed a bid by the National treasury to collect tax and fill the deficit owing to the tax holiday in the wake of the pandemic.
The other factors in play were the barrel prices in the international market, the foreign exchange rate and the storage and transportation costs.