The Energy and Petroleum Regulatory Authority (EPRA) has announced an increase in fuel prices set to take effect from October 15 to November 14. In their latest review, the prices of petroleum products have gone up, impacting consumers across the country.
Super Petrol has seen a significant rise, increasing by Ksh5.72, resulting in a new retail price of Ksh217.36. Diesel has also faced an increase, now priced at Ksh205.47, up from Ksh200.99. Meanwhile, Kerosene prices have been raised to Ksh203.06 from the previous rate of Ksh202.61 per liter.
“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 liter respectively,’’ read EPRA’s statement.
Mandera motorists have been the hardest hit in this review, with a liter of Super Petrol costing Ksh231.36. Diesel and Kerosene prices in the northern Kenyan county will stand at Ksh219.47 and Ksh219.06, respectively.
Read Also: EPRA to Review Fuel Pump Prices after Signing of the Finance Act 2023/24
These adjustments are primarily attributed to the increase in landed costs. Additionally, the Petroleum Development Levy (PDL) has been factored into these price calculations. EPRA has pointed out that without this subsidy, the price hikes would have been more significant. Super Petrol, for instance, was projected to increase by Ksh8.79 per liter, Diesel by Ksh16.12 per liter, and Kerosene by Ksh12.05 per liter.
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These changes come as a result of the 16% Value Added Tax (VAT), in compliance with the provisions of the Finance Act 2023, the Tax Laws (Amendment) Act 2020, and the revised rates for excise duty adjusted for inflation.
