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ERC lowers Petrol and Diesel prices as 8% VAT takes effect

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The Energy Regulatory Commission has announced new fuel prices following the revision of the VAT on petroleum products from 16 percent to 8%.

Petrol prices in Nairobi are now at Ksh.116 per liter while Diesel and Kerosene will retail at Ksh.108 per litre.

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“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 percent to 8 percent.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 8percent.” read a statement from ERC’s Director General Pavel Robert Oimeke.

Oimeke also noted in his statement the increase in price of Kerosene.

“As a result, the pump prices per litre in Nairobi of Super Petrol and diesel decrease by Sh8.80 and Sh7.35 respectively, while that of Kerosene increases by Sh10.71,” read the statement in part