Fuel prices hit all-time high in Kenya

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Fuel
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Fuel prices rose to an all-time high after the country’s energy regulator increased retail prices effective Friday following recent tax increases, a move that will cause financial burdens to the citizens.

The Energy Petroleum Regulatory Authority (EPRA) in a statement released Thursday evening increased pump prices for super petrol or gasoline, diesel, and kerosene by different price margins in the latest review for Sept. 15 to Oct. 14.

The EPRA said the prices of super petrol which is mostly consumed by private vehicles will now increase to 1.44 U.S. dollars per liter, diesel used to power commercial vehicles rose to 1.37 dollars per liter, while kerosene mainly used by poor homes for lighting and cooking increased to 1.38 dollars per liter.

“The average landed cost of imported super petrol increased by 4.80 percent from 739.21 dollars per cubic meter in July to 774.67 dollars per cubic meter in August; diesel increased by 12.52 percent from 701.99 dollars per cubic meter to 789.89 dollars per cubic meter while kerosene increased by 19.79 percent from 690.58 dollars per cubic meter to 827.26 dollars per cubic meter,” the EPRA said.

Kenya currently imports all its petroleum product requirements in refined form. The products are traded in the international markets based on a pricing benchmark by global rating agencies.

Fuel prices have a significant impact on inflation in an economy that depends heavily on diesel for transport, power generation, and agriculture, while kerosene is used in many households for lighting and cooking.

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