The Energy and Petroleum Regulatory Authority (EPRA) has released its calculations for the maximum wholesale and retail prices of petroleum products. The new prices will be in force from 15th February to 14th March 2021.
The changes in the maximum allowed petroleum pump prices in Nairobi as compared to the previous prices are as follows
- Super Petrol increases by Ksh. 8.19 per litre
- Diesel increases by Ksh. 5.51 per litre
- Kerosene increases by Ksh. 5.32
The prices are inclusive of the 8% 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.
According to EPRA, the changes come as a result of the weighted average cost of imported refined petroleum products in the country, and after an increase in petroleum goods, as listed below
- Super Petrol increased by 20.93% from Ksh. 35,393.09 (USD 323.52) per cubic metre in December 2020 to Ksh. 42,801.66 (USD 391.24) per cubic metre in January 2021
- Diesel increasing by 13.64% from Ksh. 36,344.87 (USD 332.22) per cubic metre to Ksh. 41,303.97 (USD 377.55) per cubic metre
- Kerosene increasing by 14.60% from Ksh. 33,144.92 (USD 302.97) per cubic metre to Ksh. 37,982.59 (USD 347.19) per cubic metre.
The Free On board (FOB) price of Murban crude oil lifted in January 2021 was posted at Ksh. 6,046.54 (USD 55.27) per barrel an increase of 11.50% from Ksh. 5,422.96 (USD 49.57) per barrel in December 2020.
Over the same period, the mean monthly US Dollar to Kenya Shilling exchange rate appreciated by 0.57% from Ksh. 110.52 per USD in December 2020 to Ksh. 109.89 per USD in January 2021.