Kenyans have sarcastically renamed the country to Taxmenistan due to the level of taxation being felt by citizens even as CS Moses Kuria warns of monthly fuel price hikes.
In a move that has sent anger and uproar through the nation, the Cabinet Secretary (CS) for Energy and Petroleum, Moses Kuria, has taken to his Twitter account to announce that Kenyans should brace themselves for a steady and substantial rise in fuel prices over the coming months.
According to the CS, this increase is attributed to the escalating global crude oil prices. Moses Kuria warned, “For planning purposes, expect pump prices to go up by Ksh 10 every month till February!”
This declaration by the CS has stirred considerable concern among Kenyan citizens, as they struggle with the economic implications of soaring fuel costs. The effects of these continuous price hikes are likely to ripple through various sectors of the economy, impacting the cost of living and daily transportation for many.
This comes after the Energy and Petroleum Regulatory Authority (EPRA) latest update released on fuel prices. The latest adjustments reveal alarming increases across the board, making the situation even more challenging for ordinary citizens. Super petrol has surged by Ksh 16.96 per litre, while diesel has seen an even more substantial rise of Ksh 21.32 per litre. Kerosene, a vital energy source for many households, has witnessed a staggering surge of Ksh 33.13 per litre.
Effective midnight EPRA announced, these new prices, which include the 16% Value Added Tax (VAT), will become the norm across the country. In Nairobi, Super Petrol will retail at Ksh 211.64 per litre, Diesel at Ksh 200.99 per litre, and Kerosene at Ksh 202.61 per litre.
It is crucial to note that these adjustments align with the provisions set forth in the Finance Act of 2023, the Tax Laws (Amendment) Act of 2020, and the revised rates for excise duty adjusted for inflation as per Legal Notice No. 194 of 2020. These legislative frameworks govern the taxation and pricing of petroleum products in Kenya.
As Kenyan citizens come to terms with the prospect of paying more for fuel every month, it becomes evident that this situation will have wide-ranging implications. The transport industry, including matatu operators and logistics companies, will likely pass on the increased operating costs to consumers. This, in turn, will affect the prices of goods and services across the board, potentially exacerbating the existing economic challenges faced by many Kenyans.
READ ALSO:Painful Blow To Kenyans As EPRA Increases Fuel Prices
