Fuel costs hit record levels following the  EPRA September Review

Fuel costs hit record levels following the EPRA September Review

Fuel costs hit record levels following the EPRA September Review

The fuel prices for the time period of September 15 to October 14 were made public  on Thursday by the Energy Petroleum and Regulatory Authority (EPRA). In Nairobi, EPRA raised the price of Super Petrol, Diesel, and Kerosene per litre to  Ksh211.64, Ksh200.99, and Ksh202.61, respectively. “The maximum allowed petroleum pump prices in Nairobi are as follows: Super  Petrol increases by Ksh16.96, Diesel increases by Ksh21.32 per litre, & Kerosene  increases by Ksh33.13 per litre,” EPRA Director General Daniel Kiptoo said. According to EPRA, the cost went up because the overall landed cost of petroleum  products increased.

“The average landed cost of imported Super Petrol increased by 4.80% from Ksh108,516 (USD739.21) per cubic meter in July 2023 to Ksh113,721 (USD774.67) per cubic meter in August 2023, while Diesel increased by 12.52% from Ksh103,052 (USD701.99) per cubic meter to Ksh115,955 (USD789.89) per cubic meter,” according to the study.The authority reported that the price of kerosene jumped by 19.79%, rising from Ksh101,377 (USD690.58) per cubic metre to Ksh121,441 (USD827.26).

Super Petrol costs Ksh208.58, Diesel Ksh197.93, and Kerosene Ksh199.54 for drivers in Mombasa. While in Nakuru, the price of gasoline, diesel, and kerosene is Ksh210.63, Ksh200.40, and Ksh202.01.Super will cost Ksh211.40 at the pump in Kisumu, whereas Diesel and Kerosene will cost Ksh201.16 and Ksh202.77 a litre, respectively.The announcement stated, in part, that “the prices are inclusive of the 16% Value Added Tax (VAT) in accordance 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 the previous assessment, the government used subsidies from the Petroleum Development Levy to protect Kenyans from growing costs.

A litre of Super Petrol, a litre of Diesel, and a litre of Kerosene cost drivers in Nairobi Ksh194.68 Ksh179.67, respectively.The government instituted a subsidy for Super Petrol, Diesel, and Kerosene of Ksh7.33, Ksh3.59, and Ksh5.74 per litre, respectively.Kenyan drivers are increasingly turning to alternate fuels like electricity and natural gas due to the high cost. Local public transportation companies have expanded their fleets to include electric vehicles.

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