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No Relief For Kenyans After Fuel Prices Rise in September
Economy

No Relief For Kenyans After Fuel Prices Rise in September 

It’s become a cat and mouse game when it comes to fuel prices in Kenya. During the pandemic the Energy and Petroleum Regulatory Authority sees no problem increasing fuel prices to the Kenyan masses.

This comes admist concerns of a disel shortage in Kenya in the past week.

“We haven’t had diesel the whole of this week. The product is not available even at depots,” said Benjamin Mulwa, an attendant at the Total station on Kimathi Street.

The situation was the same at an Ola Energy filling station near Afya Centre.

Nairobinews

The pump price of super petrol has gone up by 2.65% or KSh 1.48 to sell at KSh105.43 in Nairobi effective from midnight of 15th September 2020.

The cost of diesel, however, is down by KSh 0.12 to KSh 94.51 while that of kerosene has dropped by KSh 0.50 to KSh 83.15.

In Mombasa, the recommended retail price per litre will be KSh 103.05, KSh 92.15 and KSh 80.78 for petrol, diesel and kerosene. This is compared to KSh 105.15 for a litre of gasoline in Nakuru, KSh 94.45 and KSh 83.11 for diesel and kerosene respectively. In Eldoret, the price per litre of petrol, diesel and kerosene will be KSh 106. 07, KSh 95.36 and KSh 84.02, respectively.

These new pump prices, released by the Energy& Petroleum Regulatory Authority(EPRA) will be in force until 14th October, 2020.

All these prices are inclusive of 8% VAT in line with provisions of the Finance Act 2018 and the Tax(Amendment) Act 2020.

EPRA has attributed the easing of pressure at the pump to a marginal decline in the average cost of landed fuel imports during July.

“The changes in this month’s prices are as a consequence of the average landed cost of imported super petrol increasing by 2.65%, diesel decreasing by 1.02% and kerosene decreasing by 2.06%,” said EPRA in a statement.

The price of Murban crude in August was $ 45.74, an increase of 3.30% from $ 44.28 per barrel in July 2020.

Over the same period, the mean monthly Kenya Shilling exchange rate against the greenback depreciated by 0.44% from KSh 107.46 in July to KSh 107.93 in August 2020.

The price of crude was lowest in April at $ 17.64 per barrel and has been on a steady rise to $36.34 in June and $ 44.28 July.

With fuel being the major cost of production, one wonders why the government never thinks about reducing the tax in this commodity. It could be the simplest way to reduce the cost of living in Kenya.

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