EPRA reviews prices of petroleum products as Petrol, Diesel prices rise further

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BY KORIR JUMA,NAIROBI,14TH AUG 2020-Motorists are set for higher costs at the pump as fuel costs for all three petroleum commodities pick-up in the latest maximum-pump price review.

Petrol costs are set to rise by Ksh.3.47 beginning midnight while the price of diesel is set to increase by Ksh.2.76 per litre.

Kerosene users will meanwhile see the steepest jump in costs at Ksh.18.20 with the price of the commodity having barely changed in July when no imports were registered.

The Energy & Petroleum Regulatory Authority (EPRA) has attributed the wholesome rise in costs to an increase in price of fuel imports in the last month.

“The change’s in this month’s prices are as a consequence of the average landed cost of imported super petrol increasing by 14.18 per cent, diesel increasing by 10.3 per cent and kerosene by 127.87 per cent,” EPRA said in a statement on Friday.

A litre of Super Petrol is now expected to cost Ksh.103.95 in Nairobi up from the current cost of Ksh.100.48.

Diesel is meanwhile expected to cost Ksh.94.63 from Ksh.91.87 while kerosene costs will spike to Ksh.83.65 per litre from a low Ksh.65.45.

Fuel consumers have continued to see relief wiped out at the pump as international prices pick up in line with a rebound in the demand for oil as the majority of economies around the world re-open.

The cost of Murban the crude component from which Kenya imports its refined fuels has for instance picked up to Ksh.4,809 ($44.10) per barrel from a low Ksh.3,609 ($33.32) three months ago.

The end of the relief is expected to pack pressure on the cost of living/inflation while causing further foreign currency outflows in the form of a higher import bill.

The Kenyan shilling-presently valued at Ksh.108.3 against the US dollar as of Thursday’s close has for instance marked new bouts of volatility from a higher dollar demand by importers.

The high cost of fuel on inflation has however been offset by lower food costs.

July inflation for instance declined to an year to date low of 4.36 per cent in spite of the then mid-month spikes in the cost of petrol and diesel.

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