Kenyans will be forced to dig deeper into their pockets after the Energy and Petroleum Regulatory Authority (EPRA) announced an increase in fuel prices.
In a statement on Thursday, April 14, the regulatory authority revised pump prices across all products with Super Petrol, Diesel, and Kerosine prices rising by Sh9.90 each per litre.
A litre of Super Petrol in Nairobi will now retail at Sh144.62 while that of Diesel will retail at Sh125.50. Kerosine of similar quantity will retail at Sh113.44. This is an increase of Sh9.90 across all the products.
In the March review, the price of a litre of Super Petrol stood at Sh134.72 while that of Diesel stood at Sh115.60. Kerosine retailed at Sh103.54.
The new prices will be effective tomorrow, Friday, April 15.
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"These prices are inclusive of 8 percent VAT in line with the provisions of the Finance Act 2018, the Tax Law Amendment Act 2020 and the revised rates of excise duty," EPRA stated.
The regulatory authority attributed the rise in fuel prices to a rise in the average landing costs of the products.
According to EPRA, the average landing cost of Super Petrol had increased by 20 percent, while that of Diesel increased by 24.7 percent. The landing cost of Kerosine had increased by 11.84 percent.
However, EPRA said that the government would utilise the petroleum development levy to cushion customers from the unusually high prices.
This comes even as Energy and Petroleum Cabinet Secretary Monica Juma said that the government will take a stern action on oil marketers offering petrol at increased prices.
"During the stress period, some retailers were offering petrol at increased prices consequently, they have been issued with show-cause letters by EPRA. Whoever is found in breach, we will take stern action against the entities," Juma said.
