BusinessNews

More pain for Kenyans as fuel prices increase hits historic levels

Kenyans in shock as super petrol increases by Sh 16.96, diesel increases by Sh 21.32 and kerosene increases by Sh 33.13 per litre.

EPRA Kenya has calculated the maximum retail prices of petroleum products, which will be in force from 15th September to 14th October 2023.

The maximum allowed petroleum pump prices in Nairobi are as follows: Super Petrol increases by KShs.16.96, Diesel increases by KShs.21.32 per litre & Kerosene increases by KShs.33.13 per litre.

Super Petrol, Diesel & Kerosene will retail at Kshs.211.64, 200.99 & 202.61 respectively in Nairobi effective midnight.

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.

The average landed cost of imported Super Petrol increased by 4.80% from US$739.21 per cubic metre in July 2023 to US$774.67 per cubic metre in August 2023.

Diesel increased by 12.52% from US$701.99 per cubic metre to US$789.89 per cubic metre while Kerosene increased by 19.79% from US$690.58 per cubic metre to US$827.26 per cubic metre.

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