The Energy and Petroleum Regulatory Authority (EPRA), on Tuesday increased fuel prices by KSh.9 per liter pushing the cost of super and diesel to Sh159.12 and Sh140, respectively in Nairobi.
“The applicable pump prices for super petrol, diesel, and kerosene have been increased by KSh.9 per liter from the previous cycle,” EPRA,” said in a notice.
The prices will be effective from Wednesday Midnight as the government assures that it will use Petroleum Development Levy ( PDL ) to cushion consumers from the high prices.
This means the government will cover Ksh.25.56 for super petrol consumers, Ksh.48.19 for diesel, and Ksh.42.43 for kerosene.
Fuel increase has been attributed to an increase in the cost of fuel imports in the month of May, where a dollar is said to have depreciated.
“The mean monthly US Dollar to Kenya Shilling exchange rate depreciated by 0.99 percent from Sh115.74 per US dollar in April 2022 to Sh116.89 per US dollar in May 2022,” EPRA noted in a statement.
The prices will unleash new inflation on the cost of living as manufacturers, transport, and service providers will increase prices for the customers.
The new prices are inclusive of the 8 percent Value Added Tax (VAT) in line with the Finance Act 2018, the Tax Laws (Amendment) Act 2020, and the revised rates.