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How fuel prices will look after William Ruto’s 16pc VAT
A customer attendant fuels a car at Rubis petroleum station on Koinange Street, Nairobi on April 13. The Finance Bill 2023 proposes to raise VAT on fuel from 8 percent to 16 percent.
Photo credit: Dennis Onsongo | Nation Media Group
Pump prices will nearly breach the Sh200 per litre mark if Parliament approves a proposal by President William Ruto’s administration to double Value Added Tax (VAT) on fuel in a plan that could make Kenya have the highest prices in the region.
An analysis by the Business Daily shows that a litre of Super will rise by Sh13.51 to Sh196.21 after the additional taxes while diesel will increase by Sh12.40 to Sh180.88 if lawmakers adopted the proposal in the Finance Bill to double VAT to 16 percent.
