The Energy and Petroleum Regulatory Authority (EPRA) announced maximum fuel prices for the period 15 June 2023 to 14 July 2023, noting that prices for diesel and super petrol per litre have decreased by Kshs 1.12 and Kshs 0.66 to Kshs 167.28 and Kshs 182.04, respectively, while the price of kerosene increased by Kshs 0.35 to Kshs 161.48 per litre.
Fuel prices in the country remain elevated, mainly due to the weakening of the Kenya shilling, which continues to inflate import costs. The performance is despite a decline in the Free On Board (FOB) price of Murban crude oil by 4.6% to USD 79.6 from USD 83.4 in April 2023 per barrel.
Read: EPRA Is Set To Release Retail Petroleum Prices For The Period 15th June 2023 To 14th July 2023
The landing cost per cubic meter of Super Petrol and Kerosene decreased by 1.1% and 0.8% to USD 716.2 and USD 693.7 in May 2023, while the landing cost per cubic meter of Diesel increased by 0.8% to USD 693.9 in May 2023.
The risk of a further increase in fuel prices in the country still remains high, with the Finance Bill 2023 proposing an increase in VAT on petroleum products to 16% from 8%.
Email your news TIPS to editor@thesharpdaily.com
