President William Ruto’s government on Tuesday, February 14, maintained the cost of fuel products for the month of February.
In the latest monthly review by theĀ Energy and Petroleum Regulatory Authority (EPRA), the price of super petrol was maintained at Ksh177.3 per litre.
Meanwhile, the cost of diesel and kerosene will retail at Ksh162 and Ksh145.95 per litre respectively at the pump.
“The prices are inclusive of the eight per cent value-added tax in line with the provisions of the Finance Act 2018,” the statement read in part.Ā
EPRA noted that the average landing cost of super dipped by 0.12 per cent from December, while that of diesel and kerosene decreased by 4.76 and 5.1 per cent respectively.
Notably, the authority announced that the government only offered a subsidy for kerosene, while the two other fuels balanced each other out.
“The price of diesel has been cross-subsidized with that of petrol while a subsidy of Ksh19.41 per litre has been maintained for kerosene to cushion consumers from the otherwise high prices,” the statement read in part.
Consequently, EPRA will compensate oil marketing companies for the deficit through funds made available through theĀ Petroleum Development Levy.
Motorists in Mombasa will pay the least for fuel at Ksh174.98, Ksh159.76 and Ksh143 per litre for super, diesel and kerosene.
Pump prices in Kisumu were capped at Ksh177.5 per litre for petrol, Ksh162 per litre for diesel and Ksh146.6 for kerosene.
Amid fears that the dip in the value of the Kenyan Shilling against the American Dollar would cause a spike in fuel costs, it was shouldered by a drop in the cost of a barrel of crude oil prices.
In January, a barrel of unrefined oil at the international market retailed at Ksh11,371 down from Ksh11,700.
Source: kENYANS.CO.KE
