NO RELIEF. Fuel prices might rise again: Regulator says.

The finance committee has begun public meetings to examine tariffs and levies related to recent price spikes.

MEPs shed light on the management of the Petroleum Tax Development Fund, whose royalties are one of those associated with higher oil prices.

Kenyans who crave cheaper oil cannot be eliminated all the time soon due to higher prices that began in September, the energy regulator has warned.

Energy and Petroleum Regulatory Authority boss Daniel Kiptoo said that if you look at market trends, prices are unlikely to change anytime soon.

“We have seen an increase in Brent crude prices, with the barrel hitting around Shs 8,838.40. We are seeing an increase in the next few months or two; to what extent, we do not know,” Kiptoo said.

He told a parliamentary finance committee on Tuesday, led by Gladys Wanga (Homa Bay representative) that they could only calculate next month’s price cycle after shipments closed on the 10th.

The finance committee has begun public meetings to examine tariffs and levies related to recent price spikes.

Kiptoo said the authority is responsible for publishing monthly hats, a number that will depend on whether there is a government subsidy or not.

“We provide the data after the cargo closes on the 10th. Then we are guided by stability,” he said.

“There is an opportunity to review tariffs based on global market prices and the cries of Kenyans.”

MEPs shed light on the management of the Petroleum Tax Development Fund, whose tariffs are one of the culprits of high fuel prices.

Lawmakers said the budget estimates of the parliamentary budget found that the government pays about $ 30 billion to the fund every year.

It was revealed at the meeting that the National Treasury spent 8.6 billion shillings from May to August, with members wondering where the rest had gone.

MPs Waihenya Ndirangu (Roysambu, vice chairman of the finance committee), Jimmy Angwenyi (Kitutu Chache North), Adipo Okuome (Karachuonyo) and Chris Omulele (Luanda) expressed their concerns.

Others were David Mboni (Rural Kitui), Edith Nyenze (West Kitui), Mohamud Omaar Sheikh (South Wajir), Peter Lochakapong (Sigor) and Christine Ombaka (Siaya WR).

The Wanga-led team investigated whether the current price formula was good and why the grant was withdrawn.

Angwenyi asked for information on why oil is cheaper in Uganda and Tanzania compared to Kenya and whether importing crude oil will improve prices.

Adipo said, “Our tariffs are too high. Ordinary people are tired. Epra proves why people are crying out loud. We need to reduce taxes and levies that contribute to Sh58 in price.”

Omulele said charges of payment theft could be reduced if oil delays were delayed, asking EPRA to state how long it had been aware of the challenge.

“The delays are deliberate. We are losing about 4.5 million shillings per hour, which means 15 billion shillings are lost during this release alone, ”he said.

For his part, Nyenze said: “Do we have the advantage of having a port when prices in Uganda are low? What are the benefits of excise duty tariffs? Does this justify higher prices?

Lawmakers further humiliated Epra, saying they had nothing to prove in the face of the challenges posed by oil price governments.

They estimated that the agency was one of the reasons Kenyans were facing higher oil prices, citing 25 cents per liter, raising tariffs on petrol, which is about 1.3 billion shillings a month.

Ombaka questioned the location of the sailors’ tariffs and the counterfeit duty of Sh18 per liter of kerosene.

“Why does this apply to a product used by citizens?” Why not the same for diesel and gasoline? Asked MK Siaya Woman.

Ndirangu asked, “What percentage of the fuel tax is for development and stability? What happens when there is no bad price, where does the money go? After the grant is removed, why not remove the tax?

The Sheikh called on Epra to simplify the rules based on the current situation, comparing the audit with the challenges facing Kenyans.

At least nine taxes and levies apply to additional fuel costs per liter – shillings 58.81 for gasoline, shillings 46.46 for diesel and shillings 41.14 for kerosene.

“What is Epra’s role in price? Je! Do you think your presence is also responsible for rising prices? Je! Epra is important? Je! Does that mean? Je! 25 cents is important? My asked.

Kiptoo said there is a need to store the product. “It is important for the country. Provided in section 4 of the Petroleum Fund Act. The question is how best to use that money for the benefit of Kenyans.