The Energy and Petroleum Regulatory Authority (EPRA) has released the maximum wholesale and retail prices of petroleum products. The new prices will be in force from 15th May to 14th June, 2021.
During this period, the price for Super Petrol increases by Ksh. 3.56 per litre while that of Diesel and Kerosene remain unchanged.
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.
Super Petrol decreased by 0.57% from Ksh. 52,610.16 (USD 491.50) per cubic metre in March 2021 to Ksh. 52,309.38 (USD 488.69) per cubic metre in April 2021.
Over the same period, Kenya Exchange Rate against USD averaged 107.945 (KES/USD) in Apr 2021, compared with 109.730 KES/USD in March.
The purpose of the petroleum pricing Regulations is to cap the retail prices of petroleum products, which are already in the country, so that importation and other prudently incurred costs are recovered, while ensuring reasonable prices to consumers.
The regulator has assured the public of its continued commitment to the observance of fair competition and protection of the interests of both consumers and investors in the energy and petroleum sectors.