The rates of petrol, diesel, and kerosene have been increased by Ksh 9 litre effective from 15th June – 14th July 2022.
In Nairobi, a litre of petrol will retail at KSh159.12; diesel at KSh140.0, and kerosene at KSh127.94.
In Kisumu, a litre of petrol will go for KSh159.53; diesel KSh140.70 and kerosene KSh128.66.
According to the Energy and Petroleum Regulatory Authority (EPRA), the increased landing cost of petrol coupled with a depreciating dollar were some of the driving factors to the increased cost.
The Free On board ( FOB ) price of Murban crude oil lifted in May 2022 was posted at USD112.48 per barrel an increase of 19.67 percent from USD 93.99 per barrel in April 2022.
The prices are inclusive of the 8 percent Value Added Tax (VAT) in line with the provisions of the Finance Act 2018, the Tax Laws (Amendment) Act 2020, and the revised rates for excise duty adjusted for inflation as per Legal Notice No. 194 of 2020.
The recurrent increases in fuel prices in the recent months are eating into the margins of transporters, who will be forced to pass on the hikes to their customers.
Consequently, is set to make the prices of daily consumables and other goods dearer, affect consumption, and slow economic growth.
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