EPRA: Super Petrol Prices Go Up

The Energy and Petroleum Regulatory Authority (EPRA) has announced the fuel prices for the period between Wednesday, March 15 to April 14.

In the latest monthly review, the price of diesel and kerosene will retail at Ksh162 and Ksh145.95 per litre respectively at the pump, the same as the previous month.

However, the price of Super Petrol will retail at Ksh179.3 per litre in Nairobi - an increase of Ksh2 per litre compared to the previous month's price of Ksh177.3.

New fuel prices as announced by EPRA on March 14, 2023. /VIRALTEAKE

The new prices will take effect from Tuesday, March 14 at midnight.

"The prices are inclusive of the 8% Value Added Tax (VAT) in line with the provisions of the Finance Act 2018, the Tax Laws (Amendment) Act 2020 and the revised rates for excise duty adjusted for inflation as per Legal Notice No. 194 of 2020," EPRA stated in part.

The price of diesel has been cross-subsidized with that of Super Petrol while a subsidy of Ksh23.49 per litre has been maintained for Kerosene in order to cushion consumers from otherwise high prices.

Meanwhile, local oil companies will pay for oil imported on credit through a government-to-government deal in Kenya shillings to ease pressure on the local currency that continues to hit new record lows every week.    

Energy and Petroleum Cabinet Secretary Davies Chirchir said on Monday, March 13 that the government signed a deal last week with Saudi Aramco to supply Kenya with diesel and super for the next six months, while Abu Dhabi National Oil Company (Adnoc) will deliver three cargoes of super petrol every month.

Saudi Aramco is the world’s biggest oil producer and it recently bought US motor oil and lubricants group Valvoline, giving it a local presence locally in Kenya.

The third player selected by the government to participate in the fuel import deal that technically shelves the current open tender system hailed for bringing transparency in the oil business in Kenya is the Emirates National Oil Company Group (ENOC).

"The product will now be paid for in Kenyan shillings and this will ensure the dollar is available for other sectors of the economy," Chirchir stated, adding that the importation through government to government shall be centrally coordinated by his ministry.

He added that the government invited offers from government-owned entities in the Middle East for the supply of fuel for 270 days.

"The proposed transaction is expected to alleviate the demand for dollars driven by petroleum imports by extending the time required to source for the dollars from the current five days to 180 days," he stated.

Motorists in Mombasa will pay Ksh176.98, Ksh159.76 and Ksh143.69 per litre for super, diesel and kerosene.

Pump prices in Kisumu were placed at Ksh179.50 per litre for petrol, Ksh162.70 per litre for diesel and Ksh146.66 for kerosene.