Home NEWS Local News Super Petrol up by Ksh 5.72 despite subsidy

Super Petrol up by Ksh 5.72 despite subsidy

The average landed cost of imported Super Petrol increased by 3.93pc

Fuel prices have gone up again in the latest review by the Energy and Petroleum Regulatory Authority (EPRA).

Effective midnight Super Petrol will retail at Ksh217.36 an increase of Ksh5.72 per litre.

Channel 1

Diesel has gone up by Ksh4.48 and Kerosene by Ksh2.45 per litre to sell at Ksh205.47 and Ksh 205.06 respectively.

The new prices were announced Saturday during a presser by Energy CS Davis Chirchir at Kawi House.

“The 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” said EPRA in a statement.

It attributed the hike to an increase in average landed cost.

“ The average landed cost of imported Super Petrol increased by 3.93% from US$774.67 per cubic metre in August 2023 to US$805.14 per cubic metre in September 2023; Diesel increased by 7.07% from US$789.89 per cubic metre to US$845.72 per cubic metre while Kerosene increased by 5.01% from US$827.26 per cubic metre to US$868.70 per cubic metre” explain Regulatory Authority.

CS Chirchir assured the government is doing everything to deal with the skyrocketing prices of petroleum products.

He said the government was using the Petroleum Development Levy (PDL) to cushion Kenyans.

Without the subsidy, Super Petrol had been projected to increase by Kshs.8.79/litre, Diesel by Kshs.16.12/litre and Kerosene by Kshs.12.05/litre said EPRA.

“In order to cushion consumers from the spike in pump prices as a consequence of the increased landed costs, the Government has opted to stabilize pump prices for the October – November 2023 pricing cycle. Oil Marketing Companies (OMCs) will be compensated for the under-recovery of costs from the Petroleum Development Levy (PDL) in line with the PDL, Order of 2020”

In last month’s review, fuel prices crossed the 200 shillings mark for the first time ever hitting a high of 211.64 shillings per litre of petrol in Nairobi after a 16.96 shillings increase.

The next review will be on November 14th.



Website | + posts