September Fuel Prices: Fuel prices in Kenya have hit historical highs. The price of petrol will now sell at Sh. 134.2 per litre in Nairobi. A litre of diesel will sell at Sh. 115.60 while a litre of kerosene will now sell at Sh. 110.82 per litre. This is according to the September fuel prices review by the Energy and Petroleum Regulatory Authority.
“The prices are inclusive of the eight per cent value added tax (VAT) in line with the provisions of the Finance Act, 2018, 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 EPRA said in its statement.
In the previous review in August, petrol was selling at an average of Sh. 127.14 per litre while diesel was selling at Sh. 107.66 per litre. In the same month of August, kerosene sold at Sh. 97.85 per litre. The new prices are now set to see a hike in the cost of transport and power.
In this review, the average cost of imported super petrol decreased by 0.72 per cent from $548.36 per cubic metre in August, diesel decreased by 4.81 per cent from $514.25 per cubic metre to $489.51 per cubic metre while Kerosene increased by 0.96 per cent from $493.45 per cubic metre to $498.19 per cubic metre. “Over the same period, the mean monthly US Dollar to Kenyan Shilling exchange rate depreciated by 1.11 per cent from Sh. 108.26 per US$ to Sh. 109.46 per US$ in August 2021,” said EPRA.
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Homes that rely on lamps and tokens will be the hardest hit. Currently, Sh. 50 is only enough to buy tokens worth 2.8 units. With the new rates, the number of units that can be purchased at Sh. 50 will be lower.
According to the EPRA, the jump in prices was due to the lifting of the stabilization fund which had been cushioning consumers from previous increases. “The stabilization process for the pump prices has not been effected this pricing cycle,” EPRA Director-General Daniel Kiptoo Bargoria said.