Fuel prices will remain the same in this month’s review even with rising crude oil costs, subsidized by the Petroleum Development Levy.
Last month, The National Assembly Committee on Finance recommended a reduction on taxes and levies through tax law amendments to cushion Kenyans from the spike in fuel prices in the recent months.
The committee tabled a report before the House seeking to reduce the Petroleum Development Levy charged on Super Petrol and Diesel from KSh5.40 to KSh2.90.
Fuel consumers have been contributing to the levy kitty provided for fuel price stabilization in the country, with the highest contribution per litre of fuel being Kh5.40 under the Petroleum Development Levy Fund Order (2020), leading to an increase in the cost of petroleum products.
Thus, a litre of petrol will retail at KSh129.72 in Nairobi, diesel at KSh110.60, and Kerosene will cost KSh103.54 at the pump.
Without the subsidy, a litre of super petrol would have retailed at KSh143.48, diesel at KSh126.28 and kerosene at KSh115.11.
EPRA noted that the landed cost of imported Super petrol increased by 8.66% from $557.74 per cubic metre in September to $606.06 in October with diesel increasing by 11.17% from $504.68 to $561.06. That of kerosene also increased by 9.27% from $477.75 per cubic metre to $522.06.
The fuel prices will be in force from midnight 15th November to 14th December 2021.
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