A fuel pump. Kenyans will for the next one month fork out more money for fuel following latest price review by the regulator. www.businesstoday.co.ke
A fuel pump. Kenyans are set to pay more for fuel in latest price review [Photo/BT]

Motorists will have to dig deeper into their pockets after the Energy and Petroleum Regulatory Authority (EPRA) increased the prices of fuel in its latest review issued on Friday.

In a statement, EPRA Director-General Dr Pavel Oimeke announced that the prices of super petrol and diesel will increase by Ksh3.47, Ksh2.76 respectively.

The price of kerosene will however shoot up substantially by Ksh18.20 per litre.

Dr Oimeke said the increased prices are as a consequence of the average landed cost of imported super petrol increasing by 14.8% from USD279.58 (Ksh30, 306.70) per cubic metre in June 2020, to USD319.23 (Ksh34,604.79) per cubic metre in July 2020.

Diesel increased by 10.30% from USD302.15 (Ksh32,753.30) to USD333.27 (Ksh36,126.73) during the period under review.

In the same vein, Dr Oimeke also quoted the average landed cost of imported kerosene increasing by 126.39% from USD126.39 (Ksh13,700.78) to USD288.01 (Ksh31,220.51).

This means that a litre of petrol in Nairobi will from Saturday, August 15, retail at Ksh103.95, diesel Ksh94.63 and that of Kerosene at Ksh83.65 per litre.

Last month, Super Petrol retailed at Ksh100.48 per litre, diesel at Ksh91.87 and Kerosene at Ksh65.45 in Nairobi.

Kenyan fuel consumers will now have to fork out more after enjoying relatively low prices of fuel over the past few months in line with global trends.

According to the regulator, the cost of Murban the crude component has adjusted up to USD44.28 (Ksh4,797) per barrel from a low as USD17.64 (Ksh1911) in April.

As the price of fuel increases, pressure will be exerted on the cost of living at a time Kenyans have bigger fish to fry.

See Also>>>> The Pain of Ever Expensive Fuel Prices in Kenya

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