Oil dealers face funding pressure on high fuel prices

BDoilpipes

Prices of Murban crude on the global market have climbed to highs last seen in October last year, setting up Kenyans for a rise in the cost of fuel.

Photo credit: Pool

Oil marketers face greater working capital requirements in the wake of a combination of a spike in global fuel prices and the weakening of the shilling.

The costs of shipping in petrol, diesel and kerosene rose by up to 17.3 percent per cubic metre between the start of the year and last month, while the shilling maintained its drop against the dollar, setting up the dealers for increased cash demands to procure and hold stocks.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.