Kenyans will have to dig deeper into their pockets after the Energy and Petroleum Regulatory Authority (EPRA) announced an upward review of fuel prices for June - July period.
In a statement dated June 14, 2022, EPRA notified Kenyans that the price of fuel has shot up by Ksh9 for a litre of both petrol and diesel.
In the new pricing, petrol will retail at Ksh159.12 per litre, up from Ksh150.12, diesel will retail at Ksh140 up from Ksh131 while kerosene will cost Ksh127 up from Ksh118.94 per litre.
The new prices take effect from midnight June 15 to July 14 when the next review will be announced by EPRA.
"In the period under review, the pump prices of Super Petrol, Diesel and Kerosene increase by Ksh9.00 per litre respectively. Super Petrol, Diesel and Kerosene will now retail at Ksh159.12, Ksh140 and Ksh127.94 per litre respectively in Nairobi starting midnight," the statement from EPRA read.
EPRA stated that the government would utilise the Petroleum Development Levy (PDL) to cushion consumers from otherwise high prices.
Last month, Kenyans had to grapple with paying the highest prices for fuel but this new release by EPRA has driven the prices even higher. The jump was for all the variants of fossil fuels: super petrol, diesel and kerosene.
EPRA stated that the average landing cost for importing of super petrol increased by 5.95 per cent while diesel increased by 10.90 per cent and kerosene decreased by 0.34 per cent.
In May, Energy Cabinet Secretary, Monica Juma, warned Oil Marketing Companies (OMCs) and retailers from selling fuel at prices higher than the gazetted ones.
CS Juma warned OMCs to either comply or exit the Kenyan market.
"Kenya will not tolerate any entity or person causing distress either by creating an artificial problem or stress. Any entity that is not ready, able, or willing to work within the framework of the laws of Kenya is invited to vacate this market promptly," the CS stated.
Following the fuel crisis, President Uhuru Kenyatta convened a Cabinet meeting, where he directed the National Treasury to continue implementing the fuel price stabilisation programme.
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