Fuel prices up by 9 Ksh after EPRA review: Consumers will continue to feel the pain at the pump next month after the Energy and Petroleum Regulatory Authority (EPRA) raised the price of all fuels by 9 Kuwaiti shillings from Wednesday.
In Nairobi, consumers paid KSh 159.12 for a liter of premium gasoline, KSh 140 for a liter of diesel, and KSh 127.94 for a liter of kerosene.
The increase came against the backdrop of higher global crude oil prices, a weaker local currency and an increase in the average landed cost of imported fuel.
According to EPRA, the average landed cost of premium gasoline rose 5.96% to $876.05 per cubic metre in May from $826.77 per cubic metre in April.
During the same period, the average landed cost of diesel rose by 10.90% to $997.35 per cubic metre from $899.36.
However, the average landing cost of jet fuel fell by 0.34% from $908.66 per cubic metre in April to $905.60 per cubic metre in May.
On the other hand, the local currency depreciated 0.99% against the US dollar, averaging KSh 116.89 last month compared to KSh 115.74 in April.
However, EPRA said that without the fuel subsidy, the real selling price of a litre of premium petrol, diesel and kerosene would have risen by 25.56 Ksh, 48.19 Ksh and 42.43 Ksh respectively.
The government will use the Petroleum Development Tax (PDL) to buffer consumers from high prices,” said EPRA Director General Kiptoo Bargoria. Without the subsidy, consumers in Nairobi would pay 184.68 Ksh for a litre of premium petrol and Ksh 188.19 for a litre of diesel, Ksh 170.37 to buy a liter of kerosene. Global crude oil prices also rose during the period, with Murban crude up 19.67% from $93.99 a barrel in April to $112.48 last month.
