NAIROBI, Kenya, Feb 14 — Fuel prices will remain unchanged for the month-long period lapsing March 14 affording Kenyans a slight relief amid the high cost of living.
In its latest fuel price review, the Energy and Petroleum Regulatory Authority (EPRA) maintained the price of petrol in Nairobi at Sh177.30 a litre while diesel will continue to retail at Sh162.
The energy regulator noted that it has cross-subsidized the price of diesel with that of super petrol.
Cross-subsidization is when a marketer charges higher prices to a group of consumers in order to subsidise for another group.
In this case, it means petrol users will pay a higher price so as to afford diesel users a lower price.
A litre of kerosene will continue to retail at Sh145.94 with the government maintaining a Sh19.41 subsidy per litre to cushion consumers from the otherwise high prices.
“The Government will utilize the Petroleum Development Levy to compensate oil marketing companies for the difference in cost,” said EPRA.
In Mombasa, a litre of petrol will retail at Sh174.98, diesel at Sh159.76 and kerosene at Sh143.69 while in Kisumu a litre of petrol will retail at Sh177.50, diesel at Sh162.70 and kerosene at Sh146.66.
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 as per Legal Notice No. 194 of 2020.
The energy regulator maintained the fuel prices despite a slight decrease in the landing cost of the commodities.
The average landed cost of imported Super Petrol decreased by 0.12 per cent from USD660.65 in December 2022 to USD659.87.
Diesel decreased by 4.76 per cent from USD818.45 to USD779.49.
Further, the landing cost of kerosene decreased by 5.1 per cent from USD816.62 to USD774.99.
