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Fuel Prices Remain Unchanged In July 2021 Review

fuel prices
Fuel [File/Photo]

The retail prices for Super Petrol, Diesel and Kerosene will remain unchanged from July 15 to August 14, 2021, the Energy and Petroleum Regulatory Authority (EPRA) has said.

This means that a litre of Super Petrol will retail at Ksh127.14 in Nairobi, Diesel Ksh107.66 and Kerosene at Ksh97.85.

“The prices are inclusive of the 8% 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,” said EPRA in a statement.

The average landed cost of imported Super Petrol increased by 4.83% from US$ 496.10 per cubic metre in May 2021 to US$ 520.04 per cubic metre in June 2021; Diesel increased by 3.69% from US$ 461.95 per cubic metre to US$ 479.01 per cubic metre.

In the period under review, no Kerosene vessel was discharged at the Port of Mombasa.

The Free On board (FOB) price of Murban crude oil lifted in June 2021 was posted at US$ 63.35 per barrel a decrease of 6.44% from US$ 67.71 per barrel in May 2021.

Over the same period, the mean monthly US Dollar to Kenya Shilling exchange rate depreciated by 0.20% from Ksh107.61 per US$ in May 2021 to Ksh107.82 per US$ in June 2021.

The purpose of the petroleum pricing regulations is to cap the retail prices of petroleum products which are already in the country so that importation and other prudently incurred costs are recovered while ensuring reasonable prices to consumers.

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Written by Francis Muli

Follow me on Twitter @francismuli_. Email francis@kahawatungu.com

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