Kenyans will have to dig deeper into their pockets for the next 30 days after fuel prices rose in the latest review by the Energy and Petroleum Regulatory Authority (EPRA) announced on Tuesday, July 14.
In the latest summary, Super Petrol increased by Ksh 11.38, Diesel by Ksh 17.30 and Kerosene by Ksh 2.98.
Super Petrol, Diesel and Kerosene will now retail at Kshs.100.48, Kshs. 91.87 and Kshs. 65.45 respectively in Nairobi.
The new prices will take effect from tonight at midnight until August 14.
"The prices are inclusive of the revised rates for Petroleum Development Levy on Super Petrol and Diesel as per Legal Notice No. 124 of July 10, and 8% Value Added Tax (VAT) in line with the provisions of the Finance Act 2018, and the Tax Laws (Amendment) Act 2020," EPRA's press release reads in part.
According to the energy regulator, the changes in prices were as a result of the average landed cost of imported Super Petrol increasing by 12.64% from US$248.21 per cubic metre in May 2020 to US$ 279.58 in June 2020, and Diesel increasing by 32.16% from US$228.62 per cubic metre to US$302.15.
For the period between June 14 and July 14, Petrol, Diesel and Kerosene had retailed at Ksh 89.1, Ksh 72.06 and Ksh 62.46 respectively.
Notably, EPRA also announced that no Kerosene was discharged at the Port of Mombasa. Accordingly, the prevailing price of the commodity was maintained but adjusted for the under-recovery of VAT by Oil Marketing Companies that occurred in the previous pricing cycle.
The objective of the petroleum pricing regulations is to cap the wholesale and retail prices of petroleum products, which are already in the country so that the importation and other prudently incurred costs are recovered while ensuring reasonable prices to consumers.
The distribution of fuel prices across various towns in Kenya can be seen below:
