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The Energy and Petroleum Regulatory Authority (EPRA) announced the new fuel prices for June-July.
These new prices will be effective from June 15 to July 14.
According to the latest update, the price of super petrol has been reduced by Sh0.66 per litre, bringing the retail price down to Sh182.04.
Additionally, diesel prices also witnessed a decrease, with a drop of Sh1.12 per litre. The new retail price for diesel will be Sh167.28 per litre.
However, the news is not as favourable for users of kerosene, as its price was increased by Sh0.35 per litre.
The revised price for kerosene is Sh161.48 per litre. Kerosene is widely used by households for cooking and lighting purposes, and this increase may put additional strain on their budgets.
The prices include the 8% Value Added Tax (VAT) as stipulated in the Finance Bill 2018 and the Tax Laws (Amendment) Act 2020.
If the Finance Bill 2023 is passed, fuel will attract a VAT of 16% which is expected to result in a hike in the price.
If the Value Added Tax (VAT) on fuels were 16% instead of the current 8%, the price of Super would be nearly Sh200, diesel Sh180, and kerosene Sh173.
The expected increase in the price of fuel may have a direct impact on households due to the resulting increase in the price of commodities.
The bill sailed through the second reading in the National Assembly on June 14, when 176 MPs voted in favour of the bill against 81 MPs who opposed it.