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Pain In December Festivities As Government Increases Fuel Prices

fuel prices
Fuel [File/Photo]

Kenyans will dig deeper to pay for fuel prices between December 15, 2020 and January 14, 2021, as Super Petrol, Diesel and Kerosene prices increase by Ksh0.97, KSh1.12 and KSh1.93 per litre respectively.

As a result, Super Petrol, Diesel and Kerosene will now retail at Ksh106.82, Ksh91.82 and Ksh83.56 respectively in Nairobi starting midnight.

“The changes in this month’s prices are as a consequence of the average landed cost of imported Super Petrol increasing by 0.65% from US$ 316.64 per cubic metre in October 2020 to US$ 318.71 per cubic metre in November 2020; Diesel increasing by 1.75% from US$ 288.83 per cubic metre to US$ 293.88 per cubic metre and Kerosene increasing by 6.16% from US$ 261.17 per cubic metre to US$ 277.27 per cubic metre,” said the Energy & Petroleum Regulatory Authority (EPRA) in a statement.

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.

The Free On board (FOB) price of Murban crude oil lifted in November 2020 was posted at US$ 43.04 per barrel an increase of 7.17% from US$ 40.16 per barrel in October 2020.

Over the same period, the mean monthly US Dollar to Kenya Shilling exchange rate depreciated by 1.12% from KShs. 109.14 per US$ in October 2020 to KShs. 110.36 per US$ in November 2020.

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Written by Francis Muli

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

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