Pain At The Pump As Fuel Prices Hike Again
- A liter of super petrol will retail at Sh217.36 in Nairobi, diesel at Sh205.47 while kerosene will retail at Sh205.06.
In this month’s review by energy regulator Epra, Super Petrol has increased by Sh5.72 litre, Diesel by Sh4.48 litre, and Kerosene by Sh2.45 litre.
This means that a liter of super gasoline will cost Sh217.36 in Nairobi, a liter of diesel will cost Sh205.47, and a liter of kerosene would cost Sh205.06.
According to the terms of the Finance Act 2023, the Tax Laws (Amendment) Act 2020, and the updated rates for excise duty adjusted for inflation as per Legal Notice No. 194 of 2020, the prices include the 16% Value Added Tax (VAT).
Through a stabilization mechanism that will be supported by the Petroleum Development Levy (PDL) in accordance with the Petroleum Development Levy, Order of 2020, the state has protected consumers from the anticipated increase.
A litre of super petrol would have cost Sh8.79 more, a liter of diesel Sh16.12 more, and a litre of kerosene Sh12.05 more without the subsidy.According to EPRA, if it weren’t for the Government-to-Government agreement, the USD liquidity issues the petroleum sub-sector was experiencing before to April 2023, when the program began, would have gotten worse.
The shilling’s rate of depreciation has since decreased, with the local currency ending the week at 149.20 units per dollar.
To date, the Government has been successful in delivering 41 petroleum import cargoes through the G-to-G program. More recently, the Government has renegotiated with suppliers to lower Premiums, with the highest reduction for Diesel being $30/metric tonne, which is reflected in the current pricing cycle.
In the assessment from last month, fuel costs for the first time ever exceeded Sh200, reaching a high of Sh211.64 per litre of gasoline in Nairobi after an increase of Sh16.96.
For the September-October cycle, which ends on Saturday at midnight, the price of diesel increased by Sh21.32 and the price of kerosene climbed by Sh33.13 to retail at Sh200.99 and Sh202.61 per litre in Nairobi, respectively.
Fuel Prices Hike Again
