Kenyans are set for tougher economic times after the Energy and Petroleum Regulatory Authority increased the prices of fuel in the latest review.
In the review, the price of petrol is up by almost Sh17 per litre while that of diesel has increased by about Sh21.32 per litre.
"The maximum allowed petroleum pump prices in Nairobi are as follows: Super Petrol increases by KShs.16.96, Diesel increases by KShs.21.32 per litre and Kerosene increases by KShs.33.13 per litre," Epra announced on Thursday.
The latest review means the prices of fuel will hit a record high and breach the Sh200 mark.
“The prices are inclusive of the 16% Value Added Tax (VAT) in line with the provision of the Finance Act 2023,” Epra further said.
No stabilisation was applied in the latest review.
The increase has been fueled by the average landing cost of imported petrol, diesel and kerosene.
"The average landed cost of imported Super Petrol increased by 4.80% from US$739.21 per cubic metre in July 2023 to US$774.67 per cubic metre in August 2023; Diesel increased by 12.52% from US$701.99 per cubic metre to US$789.89 per cubic metre while Kerosene increased by 19.79% from US$690.58 per cubic metre to US$827.26 per cubic metre," Epra stated.
Prior to the latest review, petrol, diesel, and kerosene in Nairobi were retailing at Sh 194.68, Sh 179.67, and Sh 169.48 respectively.
