Kenyans can now enjoy this festive season by travelling anywhere without incurring extra transport cost. In their latest review, the energy and Petroleum Regulatory Authority (EPRA) has said that super petrol, diesel and kerosene prices will remain the same till January 14th during the next review.
In Nairobi, a litre of petrol will continue to retail at KES 177.30, while a litre of diesel will retail at KES 162.00.
EPRA has noted that the diesel price has been cross-subsidized with that of super petrol. Cross-subsidization means the marketer charges higher prices to a group of consumers in order to subsidize lower prices for another group.
This means petrol users will pay a higher price so as to ensure diesel users have a lower price. A litre of kerosene will continue to retail at KES 145.94, with the government maintaining a KES 25.07 subsidy on the commodity.
According to EPRA, the Government will utilize the Petroleum Development Levy to compensate oil marketing companies for the difference in cost.
In Mombasa, a litre of petrol will retail at KES 174.98, diesel at KES 159.76 and kerosene at KES 143.69, while in Kisumu, a litre of petrol will retail at KES 177.50, diesel at KES 162.70, kerosene at KES 146.66.
The fuel prices are inclusive of the 8 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 energy regulator has maintained the fuel prices despite a slight increase in the landing cost of the commodities.
The average landed cost of imported Super Petrol increased by 2.65 per cent from USD686.05 per cubic meter in October 2022 to USD704.21 per cubic meter in November 2022; Diesel increased by 6.56 per cent from USD863.81 per cubic meter to USD920.44 per cubic meter.
Further, the landing cost of Kerosene increased by 6.01 per cent from USD803.06 per cubic meter to USD851.31 per cubic meter.