Super Petrol will retail at Ksh 106.99 for the next 30 days, following an increase in pump prices in the latest Energy & Petroleum regulatory Authority (EPRA) review. Diesel will retail at Ksh 96.40 while Kerosene will retail at Ksh 87.12 between 15 January and 14 February 2021.
Super Petrol prices increased by Ksh 0.17, Diesel by Ksh 4.57 and Kerosene by Ksh 3.56 per litre.
“Taking into account the weighted average cost of imported refined petroleum products, the changes in the maximum allowed petroleum pump prices in Nairobi are as follows: Super Petrol, Diesel and Kerosene increase by KShs 0.17 per litre, KShs 4.57 per litre and KShs 3.56 per litre respectively,” said EPRA Acting Director-General Daniel Kiptoo Bargoria in a press release.
“The prices are inclusive of the 8% Value Added Tax (VAT) in line with the provisions of the Finance Act 2018, the Tax Laws (Amendment) Act 2020 and the revised rates for excise duty adjusted for inflation as per Legal Notice No. 194 of 2020.”
EPRA attributes the price increase to the higher landing cost of imported fuel in December 2020. Average landed cost of importing a cubic metre of Super Petrol rose by 1.51% from $318.71 in November to $323.51 in December. Landed costs for Kerosene rose by 9.27% to $302.97 per cubic Metre in December 2020. ‘
Diesel experienced the largest surge in import costs, which jumped by 13.05% to $331.22 per cubic metre in December.
The increase in prices is also in tandem with crude oil prices, which rose from $43.04 per barrel in November to $49.57 in December.