EPRA Increases Fuel Prices Again To Record High
The price of Super Petrol, Diesel and Kerosene increased by Ksh5.72 per litre, Ksh4.48 per litre and Ksh2.45 per litre respectively.
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The Energy and Petroleum Regulatory Authority (EPRA) has announced the fuel prices for the period between Sunday, October 15 and Tuesday, November 14.
In the latest monthly review, the price of Super Petrol, Diesel and Kerosene increased by Ksh5.72 per litre, Ksh4.48 per litre and Ksh2.45 per litre respectively.
Super Petrol, Diesel and Kerosene will retail at Ksh217.36, Ksh205.47 and Ksh205.06 respectively up from Ksh211.64, Ksh200.99 and Ksh202.61.
"Taking into account the weighted average cost of imported refined petroleum products, the changes in the maximum allowed petroleum pump prices in Nairobi are as follows: Super Petrol, Diesel & Kerosene increases by Ksh5.72, Ksh4.48 & Ksh2.45 per litre respectively," stated EPRA in part.
New fuel prices as announced by EPRA on October 14, 2023. /VIRALTEAKE
EPRA stated that the latest fuel prices are inclusive of the 16% Value Added Tax (VAT) in line with the provisions of the Finance Act 2023, the Tax Laws (Amendment) Act 2020 and the revised rates for excise duty adjusted for inflation as per Legal Notice No. 194 of 2020.
In Mombasa, a litre of Super Petrol will retail at Ksh214.3, Diesel will go for Ksh202.41 while Kerosene will be sold at Ksh201.99.
Super Petrol prices in Kisumu were announced at Ksh217.12, Diesel at Ksh205.64 and Kerosene at Ksh205.22.
Nakuru residents will part with Ksh216.35 for a litre of Super Petrol while Diesel and Kerosene prices were set at Ksh204.88 and Ksh204.56.
Mandera motorists were the most affected in the latest review with a litre of Super Petrol shooting up to Ksh231.36. A litre of Diesel in Mandera will likewise be sold at Ksh219.47 while the price of Kerosene was put at Ksh219.06.
The new prices take effect at midnight. The authority explained that the second consecutive increase in monthly fuel prices was a result of an increase in landing costs.
EPRA also considered the Petroleum Development Levy (PDL) in the October price calculations, adding that Super Petrol was to increase by Ksh8 if the prices were not subsidised.
"From the calculations, Super Petrol had been projected to increase by Ksh8.79/litre, Diesel by Ksh16.12/litre and Kerosene by Ksh12.05/litre," EPRA added.
It is important to note that Kenya imports all its petroleum product requirements in refined form, which makes the country susceptible to fluctuations in global oil prices and international market dynamics. These price increases come at a time when Kenyans are already grappling with the rising cost of living, including soaring food prices and increased electricity tariffs.
Fears of fuel prices crossing the Ksh200 mark began after Members of Parliament (MP) on Wednesday, June 21 approved the increase of fuel's Value Added Tax (VAT) from 8 per cent to 16 per cent.
On Friday, June 30 however, Kenyans' fears were spared temporarily when Super Petrol increased to Ksh195.53 per litre, Diesel Ksh179.67 and Kerosene Ksh173.44 per litre in Nairobi, hovering just below the dreaded Ksh200 mark.
Usually, the change in fuel prices is a ripple effect, with any increase in fuel prices triggering possible increases in the cost of matatu fares, food, transportation and power generation operational costs, which include the transportation and logistics sectors, which are vital for the distribution of goods across the country.
