Fuel prices in Kenya hit a record high after the latest price review by EPRA was unveiled on Thursday, September 14. The new adjustments cover the period from September 15 to October 14.
In this latest revision, EPRA has implemented price increases across the board, setting the new rates at Ksh211.64 per liter for Super Petrol, Ksh200.99 per liter for Diesel, and Ksh202.61 per liter for Kerosene within Nairobi.
“The maximum allowed petroleum pump prices in Nairobi are as follows: Super Petrol increases by Ksh16.96, Diesel increases by Ksh21.32 per liter & Kerosene increases by Ksh33.13 per liter,” stated Daniel Kiptoo, the Director General of EPRA, when he officially announced the adjustments.
EPRA clarified that these price hikes were necessitated by a notable surge in the total landed cost of petroleum products.
“The average landed cost of imported Super Petrol increased by 4.80 percent, rising 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 percent from Ksh103,052 (USD701.99) per cubic meter to Ksh115,955 (USD789.89) per cubic meter,” EPRA adds.
“Kerosene increased by 19.79 percent from Ksh101,377 (USD690.58) per cubic meter to Ksh121,441 (USD827.26) per cubic meter,” noted the authority.
New prices include VAT in Finance Act 2023
The revised fuel prices are also expected to impact motorists in other cities across Kenya.
In Mombasa, for instance, Super Petrol will cost Ksh208.58 per liter. Diesel on the other hand will cost Ksh197.93 per liter, while Kerosene will be available at Ksh199.54 per liter.
Meanwhile, in Nakuru, the rates will stand at Ksh210.63 for Petrol, Ksh200.40 for Diesel, and Ksh202.01 for Kerosene.
In Kisumu, Petrol will retail at Ksh211.40 per liter, while Diesel and Kerosene will be sold at Ksh201.16 and Ksh202.77 per liter, respectively.
Worth noting is that these prices include the 16% Value Added Tax (VAT) outlined in the provisions of the recently passed Finance Act 2023, the Tax Laws (Amendment) Act 2020, and the revised excise duty rates adjusted for inflation as per Legal Notice No. 194 of 2020.
In the previous review, the government had provided relief to Kenyan consumers grappling with rising fuel costs through subsidies from the Petroleum Development Levy. The government had introduced subsidies amounting to Ksh7.33, Ksh3.59, and Ksh5.74 per liter for Super Petrol, Diesel, and Kerosene, respectively.
As a result of the subsidies, motorists in Nairobi paid Ksh194.68 for a liter of Super Petrol, Ksh179.67 for a liter of Diesel, and Ksh179.67 for a liter of Kerosene.
