Consumers will continue paying same prices of Super Petrol, Diesel and Kerosene as July-August cycle following an announcement by the Energy and Petroleum Regulatory Authority (EPRA).
Following the government’s move to compensate oil marketers from the Petroleum Development Fund (PDF), Super Petrol, Diesel and Kerosene will retail at Sh194.68, Sh179.67 and Sh169.48 effective last midnight in Nairobi.
“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 August-September 2023 pricing cycle,” said Kiptoo Bargoria, Director General Energy and Petroleum Regulatory Authority.
“Therefore, the maximum allowed petroleum pump prices for Super Petrol, Diesel and Kerosene will remain Unchanged,” he said.
The average landed cost of imported Super Petrol increased by 6.84 per cent from USD691.76 per cubic metre in June 2023 to USD739.09 per cubic metre in July 2023, Diesel increased by 4.29 per cent from USD673.14 per cubic metre to USD701.99 per cubic metre while Kerosene increased by 7.41 per cent from USD642.91 cubic metre to USD690.58 per cubic metre.
In order to cushion consumers from the spike in pump prices as a consequence of the increased landed costs, the government opted to stabilize pump prices for the August-September pricing cycle. Oil Marketing Companies will be compensated from the Petroleum Development Fund.
The government will compensate oil marketers Sh7.33 for a litre of Super Petrol, Diesel Sh3.59 per litre and Kerosene Sh5.74 per litre from the Petroleum Development Fund (PDF)
The fuel prices have been on the rise since May 14, a price of a litre of super petrol increased by Sh3.40 while that of diesel and kerosene increased by Sh6.40 and Sh15.19, respectively.
The price of fuel was further increased after the government doubled the value-added tax (VAT) to 16.0 percent, up from 8.0 percent.
Following the August 14th 2023 review, Super Petrol will retail at Sh191.62, Diesel Sh176.63 and Kerosene Sh166.43 per litre respectively in Mombasa.
In Nakuru, Super Petrol, Diesel, Kerosene will retail at Sh193.77, Sh179.14, Sh168.99 per litre respectively. In Eldoret, the commodity will retail at Sh194.53, Sh179.89 and Sh169.75 per litre for Petrol, Diesel and Kerosene respectively.
In Kisumu, Super Petrol will retail at Sh194.52, Diesel Sh179.89 and Kerosene at Sh169.74.