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Sh16B Subsidy Cushions Kenyans Against Higher Fuel Prices

KRA LATEST TAXES ON NEW FUEL PRICES 2022For the first time in five months, fuel prices in Kenya will remain unchanged, at least until August 14 when the next price review is due.

The Energy and Petroleum Regulatory Authority (EPRA) announced on Thursday that the government had released a Sh16.675 billion subsidy to cushion Kenyans from the rising fuel prices.

State House confirmed that President Kenyatta authorized the S16 subsidy, with Petrol now retailing at Sh159.12, Kerosine at Sh127.9 4, and diesel at Sh140.00.

“It is notified that his Excellency the President has today authorized an additional fuel subsidy of Sh.16.7 billion so as to cushion Kenyans from a further increase in fuel prices. With today’s presidential action, diesel will continue to retail at Sh.140, petrol at Sh.159.12 and kerosene at Sh.127.94,” said State House Spokesperson Kanze Dena.

Without the subsidy, Kenyans would have coughed up Sh193.64 for diesel, Sh209.95 for petrol and Sh.181.13 for kerosene.

The government says since the beginning of the subsidy program last year, it has used Sh101.9 billion to subsidize petroleum costs.

The post Sh16B Subsidy Cushions Kenyans Against Higher Fuel Prices appeared first on Nairobi Wire.



from Nairobi Wire https://ift.tt/8LFUqyp

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