Fuel prices remain unchanged in April review

By , K24 Digital
On Fri, 14 Apr, 2023 18:51 | < 1 min read
fuel prices
PHOTO/ Courtesy

The Energy and Petroleum Regulatory Authority (EPRA) has retained the current fuel prices for the period between April 2023 15, to May 14, 2023.

As a result, a litre of Super Petrol, Diesel and Kerosene will retail at Ksh179.30, Ksh162 and Ksh145.94 in Nairobi respectively.

"In the period under review, the maximum allowed petroleum pump price of Super Petrol, Diesel and Kerosene remain unchanged," EPRA said in a statement on Friday, April 14, 2023.

The price of diesel has been cross-subsidized with that of Super Petrol while a subsidy of Ksh17.12 per litre has been maintained for Kerosene. The government will utilise the Petroleum Development Levy to compensate oil marketing companies for the difference in cost.

"The fuel prices are inclusive of the 8% Value Added Tax (VAT) in line with the provisions of the Finance Act 2018, the Tax Laws (Amendment) Act 2020 and the revised rates for excise duty adjusted for inflation as per Legal Notice No. 194 of 2020."

International fuel prices

The average landed cost of imported Super Petrol increased by 1.07% from US$ 659.47 per cubic metre in February 2023 to US$ 666.51 per cubic metre in March 2023; Diesel decreased by 7.11% from US$ 759.88 per cubic metre to US$ 705.82 per cubic metre while Kerosene decreased by 7.30% from US$ 763.28 per cubic metre to US$ 707.53 per cubic metre.

The Free On board (FOB) price of Murban crude oil lifted in March 2023 was posted at US$ 82.63 per barrel an increase of 3.15% from US$ 80.11 per barrel in February 2023.

Over the same period, the mean monthly US Dollar to Kenya Shilling exchange rate depreciated by 4.20% from Ksh133.98 per US$ in February 2023 to Ksh139.61 per US$ in March 2023.

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