• Petrol and diesel prices have, however, increased by Sh11.38 and Sh17.30 respectively while Kerosene, used mainly by households for cooking and lighting, has gone up by Sh2.98.
• Consumption has been low on reduced economic activities. A fuel attendant fuels a car at Total Petrol station along Kimathi Street in Nairobi on July 14, 2020. Motorists, manufacturers and households will dig deeper into their pockets to access petroleum products in the next one month as fuel prices rise in the latest review.
This, even as world’s leading oil producers move to increase production as a result of growing demand with countries, including Kenya, starting to slowly re-open their economies with revision of measures to control the spread of Covid-19.
President Uhuru Kenyatta last Monday announced the end of cessation of movement into and out of the Nairobi Metropolitan Area, Mombasa and Mandera counties.
This is expected to increase fuel demand as road, rail and air transport pick-up.
Petrol and diesel prices have however increased by Sh11.38 and Sh17.30, respectively, in the latest Energy and Petroleum Regulatory Authority (EPRA) review.
Kerosene, used mainly by households for cooking and lighting, has gone up by Sh2.98. In Nairobi, a litre of petrol will now cost Sh100.48 up from Sh89.10.
Diesel will retail at Sh91.87 up from Sh74.57 while a litre of kerosene will trade at Sh65.45 from Sh62.46.
"The prices are inclusive of the revised rates for Petroleum Development Levy on super petrol and diesel and eight per cent VAT in line with the provisions of the Finance Act 2018, and the tax laws (Amendment) Act 2020," EPRA director general Pavel Oimeke said in a statement yesterday.
The increase in prices has also been pegged on the cost of imported super petrol which increased by 12.64 per cent to $279.58 per cubic metre in June.
That of Diesel went up 32.16 per cent to $302.15 per cubic metre, Oimeke noted.Last month, petrol increased by Sh5.77 per litre with diesel and kerosene decreasing by Sh3.80 and Sh17.31 per litre, respectively, pegged on low global oil prices that hit a low of $31.02 (Sh3,330) a barrel in March, the lowest since February 12, 2016.In May, pump prices fell to Sh83.33 for a litre of petrol and Sh78.37 for a litre of diesel in Nairobi.Pump prices for kerosene however increased by Sh2.49 to retail at Sh79.77 a litre.Consumption of petroleum products has been low since February despite favourable pump prices occasioned by the drop […]
