Super Petrol Price To Remain Unchanged As Gov’t Lowers Diesel, Kerosene Costs By Ksh.2
The price of Super Petrol in the country will remain the same at a high of Ksh217 for the next month, according to a review released by the Energy and Petroleum Regulatory Authority (EPRA).
However, the price of Diesel and Kerosene has been slightly reduced by Ksh.2 per liter to retail at Ksh.203.47 and Ksh.203.06 respectively in Nairobi.
“The prices are inclusive of the 16% Value Added Tax (VAT) in line with the provisions of the Finance Act 2023, the Tax Laws (Amendment) Act 2020, and the revised rates for excise duty adjusted for inflation as per Legal Notice No. 194 of 2020,” said EPRA in a statement.
The petroleum regulatory authority notes that the new prices are a result of an increase in the average landed cost of imported Super Petrol by 2.81% from US$805.14 per cubic meter in September 2023 to US$827.75 per cubic meter in October 2023.
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At the same time, the average landed cost of Diesel increased by 3.28% from US$845.72 per cubic meter to US$873.42 per cubic meter while Kerosene decreased by 6.31% from US$868.70 per cubic meter to US$813.90 per cubic meter.
To cushion consumers from the spike in pump prices as a consequence of the increased landed costs, the Government says it has opted to stabilize pump prices for the November – December 2023 pricing cycle by compensating the oil marketing companies.
“The National Treasury has identified resources within the current resource envelope to compensate Oil Marketing Companies,” says EPRA.
Without the intervention to compensate the oil marketers, EPRA says Super Petrol would have retailed at Ksh.229.37 while Diesel and Kerosene would sell at Ksh.223.29 and Ksh206.70.
Super Petrol Price To Remain Unchanged As Gov’t Lowers Diesel, Kerosene Costs By Ksh.2
