Energy Prices at Fresh Highs; Second Time in a Row

Core consumer prices in Kenya are likely to rise at a faster rate on surging fuel costs caused by the ongoing Russia-Ukraine conflict.

Petrol, diesel, and kerosene prices on Thursday scaled new highs in Kenya as rates were hiked for the second time in a row.

This is the second upwards review since September 2021.

In the monthly review by the Energy Petroleum Regulatory Authority, the costs of petrol, diesel, and kerosene increased by KSh9.90.

In Nairobi, a litre of petrol will retail at KSh144.62 a litre up from Sh134.72, diesel at KSh125.5 up from KSh115.6 while kerosene at KSh113.55 per litre.

EPRA Director-General Daniel Kiptoo said the higher landed cost of petroleum products had resulted in the price hike.

Kiptoo said the per cubic unit of landed petrol rose by 24.7 percent; Diesel (24.7 percent) and Kerosene (11.84 percent).

In February 2022, the per cubic metre of landed Petrol cost $676.40 (KSh78,140). In March, that rose to $814.85 (KSh94,137).

Similarly, a cubic metre of landed Diesel rose from $677.31 (KSh78,248) in February 2022 to $844.57 (KSh97,571) in March.

The landed cost of a cubic metre of Kerosene rose from $619.57 (KSh71,577) in February 2022 to $692.95 (KSh80,054) in March.

“The Government will utilize the petroleum levy to cushion customers from the unusually otherwise high prices,” said Kiptoo.

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