Fuel prices on Tuesday rose by the biggest margin in the last 13 years due to what the Energy and Petroleum Regulatory Authority (EPRA) says is reduced average landed costs of imported super petrol, diesel, and kerosene. This is the biggest increase since 2007.
In Kenya’s capital Nairobi the cost of super petrol will increase to Sh100.48 from Sh89.1, Sh11.38 more, Sh91.87 per litre of diesel from Sh74.57, a Sh17.30 increase from mid-night to 14th August 2020.
EPRA says the move is due to the expensive fuel to the recovery in crude oil prices, which have in turn increased the cost of imported refined fuel, and the increase in the petrol levy to Sh5.40 from Sh0.40, representing a 1,250 pc rise.
“ The changes in this month’s fuel prices are as a result of the average landed costs of imported Super Petrol increasing by 12.64 percent from US$248.21 per cubic metre in May 2020 to US$279.58 per cubic meter in June 2020 and Diesel increasing by 32.16 percent from US$228.62 per cubic meter to US$302.15 per cubic meter, “the regulator said in a statement.
In Kisumu, Super Petrol, Diesel and Kerosene are now Sh98.11, Sh89.50, and Sh63.09 respectively.
In Nakuru, motorists will pay Sh100.26 for super petrol, Sh91.83 for diesel and Sh65.47 for kerosene per litre.
In Eldoret, the prices will rise to Sh101.18 for petrol, Sh92.75 for diesel and Sh66.40 for kerosene.
Crude oil prices plunged after a fallout between Saudi Arabia and Russia over production cuts in the wake of the global Covid-19 pandemic, which has also reduced demand for energy on slow economic activities.
However, reduced tension between China and Saudi Arabia, backed by increased road traffic in some of the world’s major cities in June, has sparked a rally in crude oil prices.
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