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Tough economic times ahead as fuel prices surge by Sh9.5 average



NAIROBI, Kenya, Sept 14 – The Energy and Petroleum Regulatory Authority Tuesday hiked pump prices by Sh 9.5 average over the next month, signaling tough times ahead across many sectors. of the economy.

The regulator had imposed consecutive hikes averaging Sh8 in April, May, and June after which the prices remained unchanged for two months as a result of retention of the fuel costs.

In a statement, EPRA announced the pump prices for super petrol, diesel and kerosene would increase by Sh7.58, Sh7.94, and Sh12.97 per litre respectively in Nairobi.

In Nairobi, super Petrol, Diesel, and Kerosene will sell at Sh135.7 Sh116.6, and Sh111.8  respectively.

In Mombasa, super petrol and diesel will retail at Sh132.46, and Sh113.36  respectively while Kerosene will cost Sh108.56.

In Nakuru, the pump prices of super petrol, diesel, and kerosene have been set at Sh134.24, Sh115.43, and Sh110.67 per litre respectively.

Motorists in Eldoret will, on the other hand, pay Sh135.13 for diesel, Sh116.31for diesel, and Sh115.54 for kerosene.

Wajir, Mandera, Moyale, and Elwak counties’ motorists will pay Sh 143.97, Sh 147.75, Sh144.15, and Sh 145.42 for Super Petrol.

Diesel in the above counties will retail at Sh 124.86, Sh 128.64, Sh 125.03, Sh 126.31 respectively while Kerosene will set at  Sh120.09, Sh123.86, Sh 120.25, and Sh121.53.

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“The prices are inclusive of the eight percent 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,” Epra said in a statement.

In June crude prices soared to the highest levels in three years as a result of production cuts by Organization of the Petroleum Exporting Countries (OPEC) nations and COVID-19 vaccine rollout in different countries that sparked anger among Kenyans.

This saw the National Treasury set aside Sh1.4 billion for the operations of the fuel price stabilization mechanism in the second 2020/21 supplementary budget estimates.

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