The Energy and Petroleum Regulatory Authority (EPRA) on Tuesday, January 14, increased the prices of Super Petrol, Kerosene, and Diesel in its latest fuel review.
In its announcement, the regulator noted that the maximum allowed petroleum pump prices for Super Petrol, Diesel, and Kerosene increased by Ksh0.29 per litre, Ksh2.0 per litre, and Ksh3.0 per litre respectively.
This means that the prices of Super Petrol, Diesel, and Kerosene will now retail at Ksh176.58, Diesel at Ksh167.06, and Kerosene at Ksh151.39 respectively.
“The prices are inclusive of the 16% Value Added Tax (VAT) in line with the provisions of the Finance Act 2025, the Tax Laws (Amendment) Act 2024, and the revised rates for excise duty adjusted for inflation as per Legal Notice No. 194 of 2000,” read the statement in part.
A man fueling a car at a petrol station
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New Vision
According to EPRA, the increase in petroleum prices was informed by several factors key among them, the increase in the landed cost of imported diesel. However, the landed cost of super petrol and kerosene decreased, despite the upward trend in the latest prices.
“The average landed cost of imported Super Petrol decreased by 0.54% from 55612.93 per cubic metre in November 2024 to US$611.69 per cubic metre in December 2024; Diesel Increased by 0.06% from US$643.69 per cubic metre to US$654.10 per cubic metre while Kerosene decreased by 12% from US$660.30 per cubic metre to US$619.64 per cubic metre over the same period.”
EPRA noted that the calculated maximum retail prices for petroleum products would be in force for the next 30 days from Wednesday, January 15 to February 14.
The announcement comes as a shock for most Kenyans who had hoped that the prices would remain the same as last month. This was mainly because of the stability of the Shilling.
This means that Kenyans will have to dig slightly deeper into their pockets even as there are fears of inflation, informed by the global inflation trends recorded within the last week.
”Concerns about inflation in advanced economies persisted during the week ending January 10, 2025. Inflation in the Euro Area increased to 2.4 per cent in December 2024 from 2.2 per cent in November signalling continued price pressures,” data from the CBK stated in part.
Additionally, development comes as the Kenyan Shilling remains stable against major international and regional currencies. According to data from the Central Bank of Kenya, the Shilling traded at KSh 129.47 per US dollar during the week ending January 9, 2025.
The Central Bank of Kenya (CBK), in its weekly bulletin released on Friday, January 9, reported that international oil prices remained stable during the week. However, the price of Murban oil recorded a slight increase, trading at USD 77.75( KSh10,066.29) per barrel as of January 9, 2025.
Cars approaching the Westlands roundabout in Nairobi County.
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