The government, through the Energy and Petroleum Regulatory Authority (EPRA) has announced an increase in fuel prices in its monthly review.
In accordance with Section 101(y) of the Petroleum Act 2019, Legal Notice No. 196 of 2010 and Legal Notice No. 26 of 2012, the EPRA has calculated the maximum wholesale and retail prices of petroleum products.
The changes in the maximum allowed petroleum pump prices in Nairobi are as follows: Petrol,Diesel and Kerosene increase by Ksh 3.47 per litre, Ksh 2.76 per litre and Ksh 18.20 per litre respectively.
Super Petrol, Diesel and Kerosene will now retail at Ksh 103.95, Ksh 94.63 and Ksh 83.65 respectively in Nairobi starting Friday midnight.
The authority took into account the weighted average cost of imported refined petroleum products.
The regulator explained that the increase was a result of the average landed cost of imported Super Petrol increasing by 14.18% from Ksh 30,276 per cubic metre in June 2020 to Ksh 34,569.83 per cubic metre in July 2020.
Diesel increased by 10.30% from Ksh 32,720.22 per cubic metre to Ksh 36,090.24 per cubic metre.
Kerosene saw the biggest increase by 127.87% from Ksh 13,686.94 per cubic metre to Ksh 31,188.98 per cubic metre.
The new prices shall be effective from August 15 to September 14, 2020.
The price of petroleum has increased in the international market following rise in demand as travelling resumes.
The Covid-19 pandemic had caused a ban on travel, causing the fuel prices to plummet to unprecedented levelsEPRA Director General Pavel Oimeke addressing the media in 2019.Capital Group
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