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Economy

Fuel prices rise in November review

fuel a car
A petrol station worker fuels a car in Nyeri. FILE PHOTO | NMG 

Kenyans will spend more at the pump over the next 30 days after the Energy and Petroleum Regulatory Authority (Epra) Thursday announced higher fuel prices.

In a statement signed by Epra director general Pavel Oimeke, a litre of petrol in Nairobi will cost Sh110.59 - a Sh2.54 increase - while a similar quantity of diesel will retail at Sh104.61, up from Sh101.96. Kerosene users will part with an additional Sh2.98 for a litre of the commodity now priced at Sh104.06.

The price increase which takes effect on Thursday midnight and remains in force until December 14 is attributed to higher landing costs of fuel.

According to Epra, the landing cost of super petrol rose by 0.86 percent to Sh4,632 per cubic metre last month from Sh4,593 per cubic metre in September, while diesel experienced a 2.08 percent increase from Sh4,919 per cubic metre to Sh4,999 per cubic metre.

Kerosene also experienced a 2.73 percent increase from Sh4,866 to Sh4999.

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The exchange rate also experienced a 0.23 percent rise from Sh103.79 toSh103.55 percent last October.

“The prices are inclusive of an eight percent Value Added Tax(VAT) while the computation has factored the revised Import Declaration Fee of 3.5 percent and the Railway Development Lev of two percent.

The revised pipeline tariffs has resulted in a Sh0.50 per litre saving in the overall price,’ said the statement.

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