Sigh as Fuel Prices Remain Unchanged Despite Increased Landed Costs

The Energy and Petroleum Regulatory Authority (EPRA) has retained fuel prices for another month (15th August to 14th September), despite an increase in the landed costs.

In its latest fuel price review, the Energy& Petroleum Regulatory Authority (EPRA) said the prices of Super Petrol, Diesel and Kerosene will remain unchanged until September 14 when the next review is due.

In Nairobi, Super Petrol will continue to retail at Sh159.12, Diesel at Sh140.00 and Kerosene at Sh127.94 per litre respectively.

EPRA stated that the government would utilise the Petroleum Development Levy (PDL) to cushion consumers from otherwise high prices.

“The average landed cost of imported super petrol increased by 2.99 percent from $1042.85 per cubic metre in June 2022 to $1074.01 per cubic metre in July 2022; Diesel increased by 8.22 percent from $1019.29 per cubic metre to $1103.03 per cubic metre while kerosene increased by 14.90 percent from $967.42 per cubic metre to $1111.53 per cubic metre,” said EPRA in a statement.

The prices are inclusive of the 8 percent 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.