Friday, March 29, 2024

Diesel, Kerosene prices rise yet again

Kenyans will now have to dig deeper into their pockets after diesel and kerosene prices were increased again.

The average cost of imported super petrol went down by about two per cent last month compared to August. The average landed cost of diesel went up by 2.11 per cent, while kerosene increased by 0.6 per cent.

This will see petrol retail at Sh. 115.73 per litre in Nairobi. Diesel will go for Sh. 109.72 while kerosene will retail at Sh. 108.84.

Diesel, Kerosene prices rise yet again

“Taking into account the weighted average cost of imported refined petroleum products, the changes in the maximum allowed petroleum pump prices in Nairobi are as follows: super petrol decreases by Sh. 1.06 while diesel and kerosene increase by Sh. 1.60 and Sh. 0.43 per litre respectively,” said ERC in a statement.

“The prices are inclusive of the value-added tax (VAT) at eight per cent in line with the provisions of the Finance Act 2018.”

It is the second pump price review since Parliament amended the VAT levied on petroleum products to eight per cent.

Local pump prices could further go up in the coming months as the cost of crude oil hits a four-year high in the recent weeks at over Sh8,400.
There are projections that this will go up to reach Sh10,000 before the end of this year.

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