Fuel prices rise slightly in January on high import bill

Motorists in Kenya are expected to pay more for fuel starting midnight, with fuel prices rising slightly on high import bill.

According to monthly fuel prices released on Tuesday by the Energy and Petroleum Regulatory Authority (EPRA), petrol prices rose slightly by Sh0.70, diesel Sh0.54 and kerosene Sh1.64 respectively compared to last month.

This is expected to exert little  pressure on the cost of living in the country as importers pass the increased  import bill to consumers. 

Motorists in Nairobi will now pay Sh110.20 for a litre of petrol, Sh102.32 for a litre of diesel and Sh103.95 for kerosene.

Those in Mombasa will pay the least amount for fue l in the country starting midnight with a litre of petrol retailing at Sh108.15, diesel Sh100.27 and kerosene at Sh101.91.

Motorists in Moyale will pay highest amount for fuel in the country in the next 30 days, with a litre of petrol going for Sh123.06, diesel at Sh115.17 and kerosene at Sh116.82.

''The changes in this month’s prices are a consequence of the average landed cost of imported Super Petrol increasing by 2.21 per cent from $460.83 per cubic metre in November 2019 to $471.01 per cubic metre in December 2019,'' EPRA said in a statement.

According to EPRA, diesel increased by 1.73 per cent from $485.29 per cubic metre to $493.68 per cubic metre while Kerosene rose by 5.75 per cent from $481.11 per cubic metre to $508.77 per cubic metre.

The increase in fuel prices was despite the shilling strengthened against the dollar over the same period, appreciating by 0.86 per from Sh102.20 in November 2019 to Sh101.32 per in December.

Fuel prices are expected to rise even higher next month as the effects of US-Iran conflict come into play. 

Early this month, US killed Iranian commander Qasem Soleimani in a drone attack, sparking tension in the Middle East, the region that imports most of the global oil.

The killing saw global  Brent prices spike at least three per cent $69.50 (Sh7,000), the highest level since the mid-September attack on Saudi oil facilities.