Fuel prices are set to rise sharply December after staying stable for a month as international rates have jumped and the Kenyan shilling weakened.
According to the latest review from the Energy and Petroleum Regulatory Authority (EPRA), Super Petrol, Diesel and Kerosene prices increase by Ksh0.97, KSh1.12 and KSh1.93 per litre respectively.
As a result, Super Petrol, Diesel and Kerosene will retail at Ksh106.82, Ksh91.82 and Ksh83.56 respectively in Nairobi between December 15, 2020 and January 14, 2021.
“The changes in this month’s prices are as a consequence of the average landed cost of imported Super Petrol increasing by 0.65% from US$ 316.64 per cubic metre in October 2020 to US$ 318.71 per cubic metre in November 2020; Diesel increasing by 1.75% from US$ 288.83 per cubic metre to US$ 293.88 per cubic metre and Kerosene increasing by 6.16% from US$ 261.17 per cubic metre to US$ 277.27 per cubic metre,” said the Energy & Petroleum Regulatory Authority (EPRA) in a statement.
The Free On board (FOB) price of Murban crude oil lifted in November 2020 was posted at US$ 43.04 per barrel an increase of 7.17% from US$ 40.16 per barrel in October 2020.
Over the same period, the mean monthly US Dollar to Kenya Shilling exchange rate depreciated by 1.12% from KShs. 109.14 per US$ in October 2020 to KShs. 110.36 per US$ in November 2020.