Trade Cabinet Secretary Moses Kuria has warned that fuel prices will continue with their upward trend until February 2024. Kuria cited the global surge in crude oil prices as the primary driver behind this prolonged increase in fuel costs.
Taking to Via X, formerly known as Twitter, the CS provided insight into the challenging fuel price landscape. He stated, “Global crude prices are on an upward trajectory. For planning purposes, expect pump prices to go up by Sh10 every month till February.”
Kuria’s remarks comes barely a day after the Energy and Petroleum Regulatory Authority (EPRA) announced a massive increase in fuel prices.
According to EPRA’s latest update, the prices of Super Petrol, Diesel, and Kerosene have all seen upward revisions. Specifically, the per-liter rates have increased by Sh16.96, Sh21.32, and Sh33.13, respectively.
In Nairobi, this translates to retail prices of Sh211.64 for Super Petrol, Sh200.9 for Diesel, and Sh202.61 for Kerosene. Mombasa residents will pay Sh208.58 per litre for petrol, while diesel and kerosene will retail at Sh198 and Sh200, respectively.
Petrol in Nakuru will cost Sh210.63 per litre, with diesel and kerosene priced at Sh200.40 and Sh202.01, respectively.
The price hike is most pronounced in Mandera, a remote county experiencing the highest prices in this review cycle. Here, petrol will retail at a staggering Sh226 per litre, with diesel and kerosene reaching Sh215 and Sh217 per litre, respectively.
“Taking into account the weighted average cost of imported refined petroleum products, the changes in the maximum allowed petroleum pump prices in Nairobi are as follows: Super petrol increases by Sh16.96, Diesel increases by Sh21.32 per litre, and kerosene increases by Sh33.13 per litre,” EPRA stated.
“The prices are inclusive of the 16% Value Added Tax (VAT) in line with the provision of the Finance Act 2023,” it added.
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