The government has left the prices of super petrol unchanged in a monthly fuel review which took effect last night. Consumers of diesel and kerosene will however get a slight reprieve following a decrease in prices by KSh 2 per litre.
According to the Energy and Petroleum Regulatory Authority (EPRA), the government opted to continue subsidising pump prices for the month, cushioning consumers from the continuing spike in pump prices.
- The government has subsidised the prices of petrol, diesel and kerosene by KSh 12.01, KSh 19.82 and KSh 3.64 per litre respectively.
- Without the enhanced subsidy, the price of kerosene would have retailed at KSh 206.70, diesel KSh 223.29 and petrol at KSh 229.37 per litre respectively.
The average landed cost of imported petrol increased by 2.81 per cent from US$805.14 per cubic metre in September 2023 to US$827.75 per cubic metre in October. Diesel increased by 3.28 per cent from US$845.72 per cubic metre to US$873.42 per cubic metre while Kerosene decreased by 6.31 per cent from US$868.70 per cubic metre to US$813.90 per cubic metre.
- In Nairobi, kerosene will now retail KSh 203.06 per litre, A litre of diesel and petrol will retail at KSh 203.7 and KSh 217.36 respectively.
- In Mombasa, kerosene will now retail KSh 199.99 per litre, and a litre of Diesel and Super Petrol will retail at KSh 200.41 and KSh 214.30 respectively.
- In Kisumu, kerosene will now retail KSh 203.22 per litre, and litre of diesel and super petrol will retail at KSh 203.64 and KSh 217.12 respectively.
Kenya currently imports all its petroleum product requirements in refined form and the products are traded in international markets based on a pricing benchmark provided by S&P Global Platts. In the November-December review, the cargoes that have been factored were priced on the average September Platts price which was much higher than October 2023.
“These are the cargoes that had discharged at the Port of Mombasa between the 10th day of October 2023 and the 9th day of November 2023 in line with the provision of the Petroleum regulations, 2022,” the regulator said.
The next review on December 14th will be the last one of 2023, a year when pump prices crossed the unprecedented KShs 200 per litre mark. It’ll apply until mid-January 2024.