Marginal change in petrol diesel prices, kerosene untouched - Beaking Kenya News

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Thursday, 15 October 2020

Marginal change in petrol diesel prices, kerosene untouched

 

Super petrol is up Sh0.72 per litre while diesel has decreased by Sh2.18, in the latest monthly price review.

The price of kerosene remains unchanged since no cargo was discharged at the port of Mombasa between September 10 and October 9 which is the pricing period.

In Nairobi,Super petrol will cost Sh107.27, diesel Sh92.91, and kerosene Sh83.73.

In Mombasa, Super petrol will be sold at Sh104.86, diesel Sh90.53 while kerosene will be Sh81.37.

Motorists in Nakuru will buy Super petrol at Sh106.96, diesel Sh92.85 while kerosene will retail at Sh83.69.

The cost of Super petrol in Kisumu will be Sh107.88, diesel Sh93.77, and kerosene sh84.60.

The new prices announced yesterday by the Energy and Petroleum Regulatory Authority run from October 15 to November 14.

The 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.

In Mid-September, the regulator revised the price of the products upwards following the move by the Kenya Revenue Authority to adjust upwards the Excise Duty on Super petrol, diesel, and kerosene.

The action was prompted by the average inflation rate of 4.94 per cent for the financial year 2019/2020.

The changes in this month's prices are as a result of the average landed cost of Super petrol increasing by 1.12 per cent from $327.69 per cubic metre in August to $331.37 per cubic metre in Septmeber and diesel decreasing by 5.42 per cent from $329.88 per cubic metre to $311.99 per cubic metre.

The Free On Board price of Murban crude oil lifted in September was posted at $42.35 per barrel, a decrease of 7.41 per cent from $45.74 per barrel in August.

Over the same period, the mean monthly US dollar to Kenya shilling exchange rate depreciated  by 0.62 per cent from Sh107.93 per dollar in August to Sh108.60 per dollar.

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