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More pain at pump as fuel prices revised upwards

In Summary

• EPRA has also recalculated the maximum wholesale prices of petroleum products taking into account the revised Excise Duty rates.

• It has also recalculated the maximum wholesale and retail pump prices that will be effected on Saturday, 3, October.

Fuel prices reviewed./File
Fuel prices reviewed./File

The Energy and Petroleum Regulatory Authority has raised the price of petrol, diesel, and kerosene.

The regulator said on Friday that the action came about following the move by the Kenya Revenue Authority to adjust upwards the Excise Duty on Super Petrol, Diesel, and Kerosene.

It added that the action has been prompted by the average inflation rate of 4.94 per cent for the financial year 2019/2020.

 
 

As a result, the pump price for petrol in Nairobi increases by Sh1.12 while diesel and kerosene increase by Sh.0.58 per litre respectively.

The regulator added that it has recalculated the maximum wholesale and retail pump prices that will be effected on Saturday.

It has also recalculated the maximum wholesale prices of petroleum products taking into account the revised Excise Duty rates.

Earlier, EPRA had said that Super petrol has increased by Sh1.48 while diesel and kerosene decreased by Sh0.12 and Sh0.50 per litre respectively in the latest changes by the Energy and Petroleum Regulatory Authority.

The prices are inclusive of eight per cent VAT in line with the provisions of the Finance Act 2018 and the Tax Laws.

The new prices were effected on September 15 and will run to October 14.

The average landed cost of imported diesel decreased by 1.02% from US$ 333.27 per cubic metre to US$ 329.88 per cubic metre while kerosene decreased by 2.06% from US$ 288.01 per cubic metre to US$ 282.09 per cubic metre.