The Lower Eastern Times Opening The Third Eye
Related Articles
Effective from midnight tonight, petroleum prices in Kenya will see an increase across all fuel types. The maximum allowed pump prices for Super Petrol, Diesel, and Kerosene will rise by KShs. 0.29 per litre, KShs. 2.00 per litre, and KShs. 3.00 per litre, respectively.
These adjustments are set to impact fuel costs for the next 30 days.
In Nairobi, the revised pump prices will be as follows:
- Super Petrol: KShs. 176.58 per litre
- Diesel: KShs. 167.06 per litre
- Kerosene: KShs. 151.39 per litre
These new rates are inclusive of the 16% Value Added Tax (VAT), in accordance with the provisions outlined in the Finance Act 2023. Additionally, the adjustments are in line with the Tax Laws (Amendment) Act 2024 and the updated excise duty rates, which have been adjusted for inflation as per Legal Notice No. 194 of 2020.
This increase in fuel prices is a result of a combination of factors, including global oil market trends, and is aimed at ensuring continued economic stability while aligning with the country’s tax policy changes. The government has emphasized that the price revisions are necessary to balance the fiscal and economic demands placed on the country’s oil sector.
Consumers are urged to prepare for these price changes, which are expected to affect transportation and cost of living in the short term. It remains to be seen how these increases will impact various sectors, especially in urban areas where fuel consumption is high.
As always, the government will continue to monitor the situation and adjust fuel prices as necessary to reflect the changing economic landscape.
