Kenya Fuel Prices up for March on Rising Crude Oil Cost

Total Kenya Plc on Thursday reported a 30 per cent growth in consolidated profit after tax (PAT) of Kshs 3,297 million in 2020 compared to Ksh 2,535 million posted the previous year.

Webuye Total Petrol Station

The Energy Regulatory Commission data showed rising global oil prices since January has led to revising the domestic prices upwards for petrol, diesel, and kerosene.

“Changes in this month’s prices have been as a consequence of the average landed cost of imported super petrol increasing by 3.71 to $568.85 per tonne in February, diesel increasing by 2.79 to $561.64 per tonne and kerosene by 9.16 percent to $650.29 per tonne,” said ERC on Thursday.

Year-to-date, oil prices have risen by 13.8%.

According to data published by the ERC on Thursday, the price of Super Petrol, Diesel and Kerosene increased by KShs. 1.26, KShs. 0.65 and KShs. 2.96 per litre respectively.

In Nairobi, Petrol will retail at KSh101, Diesel at KSh97 and Kerosene at KSh100.

The pump prices are inclusive of 8% Value Added Tax (VAT) in line with the provisions of the Finance Act 2018.

According to analysts, “While potentially higher pump prices, as well as pressure on cyclical food items, could exert some upward pressure, we expect that inflation will remain below 5.00% in March,” said CBA March report.

Inflation declined to 4.14% in February from 4.70% a month earlier. “Expectations going forward remain well anchored owing to stable food inflation and mute demand pressures as monetary policy limitations constrain credit expansion.”