In the new pricing, petrol will retail at Ksh150.12 per litre, up from 144.62, diesel will retail at Ksh131 up from 125.50 while kerosene will retail at Ksh118.94 up from Ksh113.44 per litre. The prices are the highest in the history of Kenya.
The new prices take effect midnight May 15 to June 14 when the next review will be done.
“The applicable pump prices for this cycle for Super Petrol, Diesel and Kerosene have been increased by Ksh5.50 per litre from the immediate previous cycle. The government will utilise the Petroleum Development Levy to cushion consumers from the otherwise high prices,” EPRA stated.
Without the subsidy, super petrol would retail at Ksh176.47 per litre while diesel and kerosene would retail at Ksh174.94 and Ksh169.26 respectively.
EPRA attributed the increase in pump prices to the depreciation of the Kenya shilling against the US Dollar.
The increase comes just days after President Uhuru Kenyatta, through a Cabinet Meeting, directed the National Treasury to continue implementing the fuel price stabilisation programme.
On May 14, fuel prices hit a record high, at the time, after the price of a litre of super petrol increased by Ksh9.90 to a pump retail price of Ksh144.62.
The retail price of diesel was capped at Ksh125.50 while kerosene at Ks113.44 per litre. Diesel and kerosene costs were increased by the same margin of Ksh9.90 per litre.
At the time, the fuel prices were announced amidst an acute shortage that was being witnessed all over the country.
Energy Cabinet Secretary, Amb Monica Juma, warned Oil Marketing Companies (OMCs) and retailers from selling fuel at costs higher than the gazetted prices.
CS Juma warned OMCs to either comply or vacate the Kenyan market.
“Kenya will not tolerate any entity or person causing distress either by creating an artificial problem or stress. Any entity that is not ready, able, or willing to work within the framework of the laws of Kenya is invited to vacate this market promptly,” the CS stated.
Source: KENYAGIST.COM
