Fuel prices in Kenya soared to a record high on Wednesday night, 14th September as the government removed subsidies on super petrol while retaining smaller subsidies for diesel and kerosene.
In the latest monthly review by the Energy and Petroleum Regulatory Authority (EPRA), the price of petrol increased by Ksh20.18 per litre while diesel and kerosene prices raised by Ksh25 and Ksh20 respectively.
The prices are inclusive of the 8 per cent Value Added tax in line with the provisions of the Finance Act 2018, the Tax Laws (Amendment) Act 2020 and the revised rates for excise duty for inflation as per Legal Notice No.194 of 2020.
“The average landed cost of imported Super petrol decreased by 24.31 per cent from $1,074.1 per cubic metre in July 2022 to $842.91 per cubic metre in August 2022; Diesel decreased by 13.9 per cent from $1,103.03 per cubic metre to $949.68 per cubic metre while kerosene decreased by 19.07 per cent from $1,111.53 per cubic metre to $899.56 per cubic metre,” EPRA explained.
Although the subsidy for super petrol has been removed, a subsidy of Sh20.82/litre and Sh26.25/litre has been retained for Diesel and Kerosene respectively in order to cushion consumers from the otherwise high prices.
The Government will utilise monies collected on account of the Petroleum Development Levy to compensate Oil Marketing Companies (OMCs) for the difference in cost.
Following the adjustments, a litre of petrol in Nairobi will retail at Sh179.30, while a litre of diesel will go for Sh165.00. A litre of kerosene will be sold at Sh147.94.
In Mombasa, a litre of petrol, diesel and kerosene will go for Ksh176.98, Ksh162.76 and Ksh145.69 respectively.
In Kisumu, Petrol, Diesel and Kerosene will trade at Ksh179.50, Ksh165.70 and Ksh148.66.
Motorists in Nakuru will part with Ksh178.62 for a litre of petrol, Diesel at Ksh164.83 and Kerosene at Ksh147.79.
The prices announced will be in force from 15th September to 14th October 2022.