Fuel prices increase in July review

The cost of goods and services is likely to go up in the next one month following upward adjustment of various fuels. 

The most affected in the new prices published Tuesday by the Energy and Petroleum Regulatory Authority are petrol and diesel prices.

Super petrol prices jump by a 10-high of 11 shillings and 38 cents per liter while diesel goes up by 17 shillings and 30 cents a liter.

Kerosene users will pay 2 shillings and 98 cents more for the commodity in the next one month.

According to the price schedule released by EPRA, pump prices for Nairobi will now be 100.48 cents while diesel will cost 91.87 cents.

Kerosene will retail at 65.45 bob.

Mombasa residents will enjoy the lowest pump prices at 98.11 for petrol while diesel will cost 89.50 per liter.

Kerosene users will pay 63.09 for the commodity according to the new prices announced Tuesday.

EPRA says the adjusted prices have been occasioned by the rise in average landed cost of imported super petrol which increased by 12.64 percent from 248.21 dollars are barrel in May to 279.58 dollars per cubic meter in June 2020.

Diesel has also increased by 32.16 percent from 228.62 dollars are barrel to 302.15 dollars.

The prices are inclusive of the revised rates for Petroleum Development Levy on super petrol and diesel and eight per cent VAT in line with the provisions of the Finance Act 2018, and the tax laws (Amendment) Act 2020,”EPRA Director General Pavel Oimele said in a statement published Tuesday.

The new prices are expected to make life more expensive for Kenyans already feeling the impact of reduced economic activity on account of COVID-19 pandemic.

There has been reduced demand for oil products in the country since March this year when the government imposed travel restrictions and dusk to dawn curfew to stop the spread of the deadly virus.

Data from EPRA indicates that in May there was a 65 per cent drop in fuel sales, on reduced demand from the transport sector, industrial and agricultural activities, occasioned by the coronavirus pandemic.

In Kenya kerosene usage is widespread in rural areas where the ministry of energy estimates that almost 7 percent of Kenyan households rely on kerosene for lighting and cooking.

  

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