Fuel prices remain unchanged as gov’t commits Ksh16B subsidy

By , K24 Digital
On Thu, 14 Jul, 2022 16:03 | < 1 min read
Fuel Prices

The pump fuel prices of super petrol, diesel and kerosene will remain unchanged following a review by the Energy and Petroleum Regulatory Authority (EPRA) on calculated the maximum retail prices of petroleum products which will be in force from July 15 to August 14, 2022.

As a result, diesel will continue to retail at Ksh140 per litre, petrol at Ksh159.12 and Kerosine at Ksh127.94.

"The 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," EPRA said in a notice.

International fuel prices

The average landed cost of imported super petrol increased by 19.04% from US$876.05 per cubic metre in May 2022 to US$1,042.85 per cubic metre in June 2022; Diesel increased by 2.20% from US$997.35 per cubic metre to US$1,019.29 per cubic metre while Kerosene increased by 6.83% from US$905.60 per cubic metre to US$967.42 per cubic metre.

"The applicable pump prices for this cycle have been maintained as the ones applicable in the immediately previous cycle. The Government will utilise the Petroleum Development Levy to cushion consumers from the otherwise high prices," EPRA added.

The Free Onboard (FOB) price of Murban crude oil lifted in June 2022 was posted at US$ 104.48 per barrel a decrease of 7.11% from US$ 112.48 per barrel in May 2022. Over the same period, the mean monthly US Dollar to Kenya Shilling exchange rate depreciated by 1.41% from Ksh116.89 per US$ in May 2022 to Ksh118.53 per US$ in June 2022.

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