Motorists to pay more at pump as fuel prices go up

What you need to know:

Motorists will pay more for petrol and diesel in the latest monthly review by energy regulator.
Energy and Petroleum Regulatory Authority (EPRA) raised the price of a litre of super petrol by Sh3.07 and that of diesel by Sh0.39 stating that pump prices are inclusive of the eight percent Value Added Tax (VAT).
The regulator however announced a decrease in kerosene prices which will go down by Sh0.34 per litre.

Motorists will pay more for petrol and diesel in the latest monthly review by energy regulator.

Energy and Petroleum Regulatory Authority (EPRA) Friday increased the price of a litre of super petrol by Sh3.07 and that of diesel by Sh0.39 stating that pump prices are inclusive of the eight percent Value Added Tax (VAT).

The regulator however announced a decrease in kerosene prices which will go down by Sh0.34 per litre.

"The changes in this months' prices have been as a consequence of the average landed cost of imported Super petrol increasing by 4.54 percent from $514.72 per cubic meter in April 2019 to $535.08 in May 2019, Diesel increasing by 0.52 from $533 per cubic meter to $535.84 per cubic meter and Kerosene decreasing by 0.43 percent from $535.17 per cubic meter to $532.89 per cubic meter," said the Director General Robert Oimeke.

The latest hike reflects rising global oil prices since January. Crude oil hit $66.35 per barrel in February.

The EPRA review is dependent on the average landed cost of imported oil, Free On Board (FOB) price of Murban crude oil lifted as well as the mean monthly dollar to shilling exchange rate.

The shilling appreciated by 1.12 percent against the dollar to 101.17 in February.