• A litre of diesel in Nairobi will now retail at Sh125.50 up from Sh115.60.
• Kerosene will retail at Sh113.44 in Nairobi up from Sh103.54.
Image: FILE
Fuel prices have increased by Sh9.90 in this month's review by the Energy Regulatory Authority, EPRA.
This now puts the price of a litre of petrol at Sh144.62 in Nairobi up from Sh134.72.
A litre of diesel in Nairobi will now retail at Sh125.50 up from Sh115.60.
Kerosene will retail at Sh113.44 in Nairobi up from Sh103.54.
The new prices will take effect at midnight on Thursday, April 14 until midnight May 14, 2022.
EPRA Chief Executive Officer Daniel Kiptoo said the new prices are inclusive of 8 per cent VAT in accordance the Finance Act, 2018, Tax Law amendment Act 2020 and adjustment of inflation rates.
While releasing the new prices on Thursday, Kiptoo said the hike is as a result of a 20.47 per cent increase in the average landing cost for super petrol by, 24.7 per cent for diesel and 11.84 per cent for kerosene.
This translates to a 20.47 per cent change in the cost of super petrol, 24.7 per cent change in the cost of diesel and 11.84 per cent change in the cost of kerosene.
"The government will utilize the petroleum development levy to cushion customers from the unusually otherwise high prices," Kiptoo said.
He said oil marketers will be compensated Sh29.08 per litre of petrol, Sh40.24 per litre of diesel and Sh26.45 for kerosene.
The fuel hike comes amid a biting shortage of fuel shortage across the country.
Earlier, acting Petroleum Cabinet Secretary Monica Juma assured Kenyans that normal fuel supply would resume within 72 hours as oil marketers who were hoarding the product in anticipation of high prices release it for supply.
She termed the hoarding as criminal and amounts to economic sabotage.
"I confirm that hoarding is unfortunately taking place...we hope that the supply and demand will correct itself in the next 72 hours after news of monthly prices have been read,"Juma said.
The country, she confirmed, has sufficient oil reserves enough to last for the next 18 days.
"Economic sabotage is a capital offense. We are going to deal with perpetrators on case by case basis. This cannot be tolerated," Juma said.