Fuel Prices Increase to a Record High

In accordance with Section 101(y) of the Petroleum Act 2019 and Legal Notice No.192 of 2022, EPRA Kenya has calculated the maximum retail prices of petroleum products, which will be in force from 15th October 2023 to 14th November 2023.

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, Diesel & Kerosene increases by Kshs.5.72, Kshs.4.48 & Kshs.2.45 per litre respectively.

In Nairobi, Super Petrol, Diesel and Kerosene will now retail at Kshs.217.36, Kshs.205.47 & Kshs.205.06 effective midnight for the next 30 days.

The prices are inclusive of the 16% Value Added Tax (VAT) in line with the provisions of the Finance Act 2023, the Tax Laws (Amendment) Act 2020 and the revised rates for excise duty adjusted for inflation as per Legal Notice No. 194 of 2020.

From the calculations Super Petrol had been projected to increase by Kshs.8.79/litre, Diesel by Kshs.16.12/litre and Kerosene by Kshs.12.05/litre.

The Government has resolved to cushion consumers from the projected increase through a stabilization mechanism to be funded by the Petroleum Development Levy (PDL) in line with the Petroleum Development Levy, Order of 2020.