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ERC raise kerosene price, slash petrol and diesel prices

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The Energy Regulatory Commission (ERC) has effected changes on the prices of petroleum products following the signing into law of 8 percent fuel levy.

On its twitter account ERC announced the new prices for petroleum products.

In Nairobi, the prices per litre of diesel and super petrol decreased by KSh 7.35 and KSh 8.80 respectively while kerosene increased by KS10.71.

“Pursuant to the Finance Act 2018, the Value Added Tax (VAT) on Super Petrol (PMS), Diesel (AGO) and Kerosene (IK) has been revised from 16% to 8%. Accordingly, ERC has recalculated the maximum pump prices that will be in force from 21st September to 14th October 2018 taking into account the VAT at 8%” read part of a press release on September 21, 2018 read by ERC Director-General Pavel Oimeke.

The new prices per litre in Nairobi will be KSh 116.79 for petrol, KSh 108.12 for diesel and KSh 108.41 for kerosene.

In Mombasa, a litre of super petrol will now be sold at Sh114.15, diesel at Sh105.50 and Kerosene at Sh105.78.

The prices have reflected the 8% levy on fuel products as per the Finance Act 2018.

Poor households are the worst hit in the new changes as the cost of kerosene has gone up.

The changes came hours after President Uhuru signed into law the Finance Bill 2018 which was approved by Parliament after a chaotic parliamentary session marked by shouting and rigging claims by a cross section of legislators who were pushing for zero tax on fuel.

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