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Saturday, April 1, 2023

Prices of petroleum products rise in latest revision

Kenyans will have to dig deeper into their pockets following the fuel price increase as announced by EPRA on Thursday.

The prices which are to take effect from Friday 15th November to 14 December will see all petroleum products go up at the pumps.

Announcing the new changes, EPRA said the increase has been attributed to the landing cost going up for Diesel, Petroleum, and Kerosene.

“Taking into account the weighted average cost of imported refined petroleum products, the changes in the maximum allowed retail petroleum prices in Nairobi are as follows: Super Petrol, Diesel and Kerosene increased by KShs.2.54 per litre, KShs.2.65 per litre KShs.2.98 per litre respectively.”

Also included in the prices are the revised excise duty adjustments for inflation, revised Import Declaration Fee of 3.5% and the Railway Development Levy of 2%.

In October the Free on Board price of Murban Crude Oil decreased by 1.74% from 64.42 dollars to 63.30 dollars.

The mean monthly exchange rate between the Kenyan Shilling and the US Dollar appreciated by 0.23% from 103.79 to 103.55 in October 2019.

News Moto
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