Fuel prices come down as Uhuru assents to Finance Bill

by GW Reporter

 

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

ERC Director-General Pavel Oimeke on Friday said the new prices will take effect from Friday to October 14.

The reduction follows the signing into law the Finance Bill 2018, which was passed by the National Assembly on Thursday evening in chaotic scenes 

The ERC Director-General said the new costs have also taken into account the anti-adulteration levy of Sh18 per litre on Kerosene in line with the Finance Act 2018 that was assented to by President Kenyatta on Friday.

“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,” Mr Oimeke said in a statement.

Super petrol will now retail at Sh116.79 in Nairobi, diesel at Sh108.12 and Kerosene at Sh108.41 per litre.

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

In a Twitter post on Friday, Mr Kenyatta, who whipped Jubilee MPs to ensure the bill that raises the cost of living is passed, vowed to ensure proper use of public funds.

“I give my commitment that I will ensure proper utilisation of public resources for a better Kenya. I will not relent on the war against Corruption,” he said.

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