Kenya News

More pain at the pump as fuel prices shoot up in the latest review

The Energy and Petroleum Regulatory Authority (EPRA) has released fuel prices for the period between September 15 and October 14.

In the pricing index released on Tuesday, EPRA noted that prices of petrol, diesel and kerosene had increased by as much as Ksh7 per litre for the next 30 days.

The retail prices for petrol increased by Ksh 7.58 per liter to retail at Ksh 134.72 in Nairobi while diesel increased by Ksh7.94 to retail at Ksh115.

Kerosene, on the other hand, had spiked by Ksh12.97 to retail at Ksh110.2.

EPRA has attributed the rising fuel prices higher costs for landed petroleum products with the cost of landed super petrol rising by 0.72 per cent, diesel by 4.81 per cent and kerosene by 0.96 per cent.

A stand-in fund known as the fuel price stabilization fund has seemingly run out of reserves ending relief to Kenyans who had seen fuel prices go unchanged in the last two months.

The fund run partly by the National Treasury has provided respite to consumers by lowering margins paid to suppliers/ oil marketers who are later compensated by the exchequer for the hair cut.

Subsequent to lack of funding for the stop-gap kitty, EPRA has been forced to reinstate all of the margins ending with the significant jump in fuel prices.

For instance margins to the suppliers of petrol have shot to Ksh.12.39 (the norm) from Ksh.5.29, the margins for the supply of diesel have also been reinstated to Ksh.12.36 from Ksh.2.49.

The margins for the supply of kerosene are also back at the usual Ksh.12.36 from Ksh.2.

Since the implementation of the fund on April 14, petrol prices have only risen twice, by Ksh.3.56 in May and 77 cents in June while diesel and kerosene costs have not moved since the March 14 review.

Source: https://citizentv.co.ke

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