July Petrol, Diesel Prices in Kenya Soar to Ksh 11, Ksh17 Respectively 

For the first time ever, after fuel prices remaining unchanged for the fourth consecutive month, prices shoot up in the latest review by Kenya’s Energy and Petroleum Regulatory Authority.

The price of Super Petrol, Diesel and Kerosene will increase by KSh11.38, KSh17.30 and KSh2.98 per litre respectively as from July 15 according to the latest review by Energy and Petroleum Regulatory Authority (EPRA).

Super Petrol will now retail at Ksh100.48 in Nairobi, Diesel at Ksh91.87 and Kerosene at Ksh65.45. 

In Mombasa, the prices will be relatively lower at Ksh98.11 for Super Petrol, Ksh89.50 for Diesel and Ksh63.09 for Kerosene.

In June, the marginal rise was a result of the recovery in crude oil globally. Year-on-year, petrol, diesel and kerosene prices fell by 22.23 percent, 28.34 percent and 39.49 percent respectively.

According to EPRA, “The prices are inclusive of the revised rates for Petroleum Development Levy on Super Petrol and Diesel as per Legal Notice No. 124 of 10th July 2020 and 8 percent Value Added Tax (VAT) in line with the provisions of the Finance Act 2018 and the Tax Laws (Amendment) Act 2020.”

The changes in this month’s prices are as a result of the average landed cost of imported Super Petrol increasing by 12.64 percent from US$ 248.21 per cubic metre in May 2020 to US$ 279.58 per cubic metre in June 2020 and Diesel increasing by 32.16 percent from US$ 228.62 per cubic metre to US$ 302.15 per cubic metre.

According to the latest Central Bank Weekly Bulletin, international oil prices increased during the week reflecting mild pickup in demand in Europe and China. Murban oil price increased to USD 43.93 per barrel on July 9 from USD 42.91 per barrel on July 2.