Consumers will now pay KSh 100.48 for a litre of petrol and KSh 91.87 for a litre of Diesel in Nairobi, as petrol prices rise in July.
A statement by the Energy and Petroleum Regulatory Authority (EPRA) says that petrol prices will increase by Ksh 11.38 while diesel prices will hike by Ksh 17.30 following increases in the average landing cost of importing fuel.
Similarly, kerosene prices will rise by KSh 2.98 per litre.
Motorists will now pay KSh 100.48 for a litre of petrol, compared to KSh 89.10 last month. They will also pay Ksh 91.87 for a litre of Diesel previously retailing at Ksh 74.57.
Rising Cost of Crude oil is Pushing Petrol Prices
In June, Kenya imported a cubic meter of super petrol at $279.58, up by 12% compared to $248.21 in May. Correspondingly, the country imported a cubic meter of Diesel at a 32.16% additional cost in June from $228.62 in May.
Data from EPRA shows an upward trend in the cost of crude oil per barrel, which rose from $23.52 in May to $36.34 in June, thus increasing prices.
The rise in fuel costs comes a few days after President Uhuru lifted the ban on intercountry movement.
The cost of fuel would have been even higher if KRA had not deferred the 5.5% excise duty arising from annual inflation adjustments, scheduled for July 1st, which was set to affect fuel, among other 34 products. KRA will instead implement the duty in January 2021.
SEE ALSO: Relief as KRA Delays New 5.5% Excise Duty For 6 Months