Eyes on EPRA ahead of new prices plan on Friday

Following the High Court’s suspension of all taxes imposed by the Finance Act of 2023, Kenyans are eagerly awaiting the results of the fuel price review scheduled for Friday.
By virtue of the court’s ruling, the Energy and Petroleum Regulatory Authority (EPRA) was essentially prevented from raising the value added tax on fuel from 8% to 16%.
The revised prices, which are valid through August 14th, will be made public by EPRA.
During the most recent assessment, the cost of petrol in Nairobi increased to Sh195.53 for super fuel and Sh179.67 for diesel, respectively, as of 1 July.
The High Court’s indefinite extension of a prior stay of the Finance Act 2023 has put a stop to President William Ruto’s taxation intentions.
The Kenyan government offered several revisions to the Finance Bill 2023 in May 2023.
The petitioner, Busia Senator Okiya Omtata, said that the bill was illegal and that Kenyans would suffer a great deal if it were to be implemented.
On June 30, a day after it was supposed to go into effect and in the midst of controversy over tax proposals, notably the doubling of the VAT on fuel, the High Court postponed the Finance Act 2023.
However, EPRA went ahead and increased the cost of gasoline, diesel, and kerosene by 8% while raising the VAT rate from 8% to 16%.
Despite fierce opposition, Ruto’s administration managed to get the law through parliament by arguing that additional revenue measures were necessary to fund projects to create jobs and deal with the nation’s mounting debt commitments.