Price of petrol up by Sh0.28; diesel by Sh2.44 as Kerosene drops by Sh3.31September 14, 2019
NAIROBI, Kenya, Sept 14 – The price of diesel has gone up by Sh2.44 in Nairobi and to retail at Sh103.04 per litre, in the latest Energy & Petroleum Regulatory Authority (EPRA) report. Super Petrol will retail at Sh112.81 after inching up Sh0.28.
According to the EPRA maximum retail pump prices, Kerosene resisted the upward trend going down Sh3.31 to Sh100.44 following the EPRA monthly review.
“Changes in this month’s prices are as a consequence of the average landed cost of imported Super Petrol decreasing by 0.22% from US$ 489.46 per cubic metre in July 2019 to US$ 497.36 per cubic metre in August 2019. Diesel increasing by 4.39% from US$482.47 per cubic metre to US$503.61 per cubic metre,” said the EPRA September release.
Over the same period, the mean monthly US Dollar to Kenya Shilling exchange rate depreciated by Sh0.13 from Sh103.31 per US$ in July to Sh103.44 per US dollar in August.
“Taking into account the weighted average cost on imported refined petroleum products, the changes in the maximum allowed petroleum pump prices are inclusive of 8% Value Added Tax (VAT) in line with the provisions of the Finance Act 2018 and the revised rates for excise duty adjusted for inflation,” said the EPRA statement.
EPRA Director General Robert Oimeke said: “The purpose of the fuel pricing regulations is to cap the pump prices of the products, whch are already in the country, so that the importation and other costs incurred are recovered , while ensuring reasonable prices to consumers.”
“The Authority is committed to the observance of fair competition to protect the interests of both the general public and investors in the energy sector,” concluded Oimeke.