The Energy and Petroleum Regulatory Authority (EPRA) has reportedly revised the maximum retail pump prices for petroleum products.
which will be in force from 15th September to 14th October 2019.
With the new retail pump prices which came into effect on the 15th of September 2019 and will be enforced until the 14th of October 2019, Diesel will now retail at 103.04 Kenyan Shillings, Kerosene at 100.64 Kenyan Shillings and Super Petrol at 112.81 Kenyan Shillings.
Diesel saw an increase of 2.44 Kenyan Shillings per litre, while Super Petrol’s Increase in price per litre is 0.28 Kenyan Shillings. Kerosene however, saw a decrease of 3.31 Kenyan Shillings per litre.
The new pump prices are also inclusive of 8% Value Added Tax (VAT) which is in line with the provisions of the Finance Act 2018 as well as the revised rates for excise duty which have been adjusted for inflation.
The new prices are as a result of the landed cost of imported Super Petrol which decreased by 0.22% fromto $497.36 (51,653.32 Kenyan Shillings) per cubic metre from $498.46 (51,767.56 Kenyan Shillings) per cubic meter in July 2019.
The landed cost for Diesel increased as well by 4.38% from $482.47 (50,104.51 Kenyan Shillings) per cubic metre to $503.61 (52,299.90 Kenyan Shillings) per cubic metre while Kerosene decreased by 5.61% from $513.10 (53,285.44 Kenyan Shillings) per cubic metre to $484.29 (50,293.52 Kenyan Shillings) per cubic metre.
The Free on Board (FOB) price of Murban crude oil which lifted in August 2019 was posted at $62.30 (6,469.86 Kenyan Shillings) per barrel, a decrease of 5.82% from $66.15 (6,863.72) per barrel in July 2019.
