The Energy and Petroleum Regulatory Authority (EPRA) has announced an increase in fuel prices by Ksh9 in the June 2022 review.
As a result, super petrol, diesel and krosene will now retail at Ksh159.12, Ksh140 and Ksh127.94 per litre respectively in Nairobi starting midnight.
"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," said EPRA in a statement.
"The Government will utilise the Petroleum Development Levy (PDL) to cushion consumers from the otherwise high prices," EPRA added.
Actual calculated fuel prices
The actual calculated fuel prices for June-July period would have been Ksh184.68 for super petrol, Ksh188.19 for diesel and Ksh170.37 for kerosene. However, through PDL, the government will pay Ksh25.56 for super petrol, Ksh48.19 for diesel and Ksh42.43 for kerosene.
The average landed cost of imported Super Petrol increased by 5.96 percent from US$826.77 per cubic metre in April 2022 to US$876.05 per cubic metre in May 2022 while diesel increased by 10.90 percent from US$899.36 per cubic metre to US$997.35 per cubic metre. Kerosene decreased by 0.34 percent from US$908.66 per cubic metre to US$905.60 per cubic metre.
The Free On board (FOB) price of Murban crude oil lifted in May 2022 was posted at US$ 112.48 per barrel an increase of 19.67 percent from US$ 93.99 per barrel in April 2022.
Over the same period, the mean monthly US Dollar to Kenya Shilling exchange rate depreciated by 0.99 percent from Ksh115.74 per US$ in April 2022 to Ksh116.89 per US$ in May 2022.