Expect a drop in fuel prices today, President Ruto announces » Capital News

NAIROBI, Kenya, Mar 14 – President William Ruto has told Kenyans to expect a drop in fuel prices to be announced Thursday by the Energy and Petroleum Regulatory Authority (EPRA).

Speaking during a development tour of Kericho, the head of state indicated that this is part of the government’s initiatives to ensure that the country moves forward in the right trajectory.

“Today new fuel prices will be announced, so be patient. Didn’t I tell you I will straighten these things?” the head of state indicated.

In the latest pump price review, Fuel prices went down by Sh1.00.

Super Petrol, Diesel and Kerosine has been retailing at Sh206.36, Sh195.47, Sh193.23 respectively in Nairobi since then.

Director General Daniel Kiptoo stated that the “prices are inclusive of the 16 percent Value Added Tax (VAT) in line with the provisions of the Finance Act 2023, the Tax Laws (Amendment) Act 2020 and the revised rates for excise duty adjusted for inflation as per the Legal Notice No. 194 of 2020.”

“The price of diesel has been cross subsidized with that of Super Petrol while Kerosine has been fully subsidized,” he stated.

He pointed out that Oil Marketing Companies (OMCs) will be compensated for the under recovery of costs from the Petroleum Development Levy (PDL) fund.

President William Ruto and EPRA boss Daniel Kiptoo had stated that the drop of fuel prices will continue this year.

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