The National Assembly’s Energy Committee is considering a review on fuel taxes, following the sharp rise in pump prices in the March Energy and Petroleum Regulatory Authority (EPRA) reviews. Media reports show that the committee is considering proposals of lower taxes and levies through the Finance Bill of 2021.
“We need to look at the taxes. As a committee, we are meeting next to review the Finance Act and propose changes,” says Energy Committee Chairperson David Gikaria. “The onus is on Parliament now to sit and look at the levies and taxes critically.”
Adopting lower fuel taxes would cushion many Kenyans from high fuel costs, with Petrol retailing at Ksh 122.8, diesel at Ksh 107.66 and Kerosene at Ksh 97.85 a litre. While rising landing costs and currency fluctuations drove the changes in pump prices, a review on fuel taxes will offer much-needed respite to motorists at the expense of the taxman.
Taxes and levies form the largest portion of fuel prices, accounting for 46.68% of the pump price of Super Petrol, 42.23% of that of Diesel and 40.42% of that Kerosene in March 2021.
SEE ALSO: Petrol Prices Hit Ksh 122.8 Following a Leap in March Pump Prices
