Home ECONOMY Fuel, LPG Prices Rise as January Financial Woes Pile

Fuel, LPG Prices Rise as January Financial Woes Pile

by biasharadigest

Motorists will pay more for petrol and diesel in the coming days. Additionally, the low –income households will dig deeper in their pockets to purchase a litre of kerosene.

According to a bulletin from Energy and Petroleum Regulatory
Authority(EPRA), the pump price for a litre of Super Petrol, Diesel and Kerosene
in Nairobi, will increase by 70 cents, 54 cents and KSh 1.64 per litre
respectively.

These maximum wholesale and retail new pump prices will take effect on 15th January and run up to 14th February 2020.

“The prices are inclusive of 8 per cent VAT and the revised rates for Railway Development levy as well as the Import Declaration fee in line with the Finance Act 2019,” said Mr Robert Pavel Oimeke-Director General, EPRA in a statement.

The regulator attributes the changes in this month’s fuel prices to increased cost of importation.

For instance, cost of importing super petrol rose by 2.21 per cent to US$ 460.83 in November to US$ 471.01 per cubic meter in December 2019.

Diesel increased by 1.73 per cent to US$493.83 per cubic meter and Kerosene by 5.75 per cent to US$ 508.77 per cubic meter.

The price of Murban crude lifted in December 2019 was posted at US$ 69.25 per barrel an increase of 3.98 per cent from US$ 66.60 per barrel in November 2019.

Over the same period, the Shilling exchanged at a mean rate
of KSh 102.20 against the US dollar in November compared to KSh 101.32 per US
dollar in December 2019.

Following implementation of new LPG rules, the price of
cooking gas has increased in most outlets in Nairobi and surrounding areas.

A spot check in Ongata Rongai, one of the satellite towns around Nairobi revealed that the price of a kilogram of cooking gas has increased by KSh 15.00.

A bulletin to retailers from Glevak limited indicated that new prices will affect K-Gas, Supa, Hashi, Lake, and Mpishi brands.

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