Epra: Fuel prices remain unchanged

The energy regulator has kept fuel prices unchanged for the third month in a row in the latest monthly review of fuel prices.

The Energy and Petroleum regulatory Authority (Epra) on Friday announced that the current fuel prices would remain in place for the fourth month in a row.

This means consumers in Nairobi continue to pay Sh129.72 for a litre of petrol, Sh110.6 for diesel and Sh103.54 for kerosene.

“In the period under review, the pump prices of super petrol, diesel and kerosene remain unchanged,” the energy regulator said.

“The prices are inclusive of the 8 per cent Value Added Tax (VAT) in line with the provisions of the Finance Act, 2018, the Tax Laws (Amendment) Act, 2020 and the revised rates for excise duty adjusted for inflation as per Legal Notice No. 194 of 2020,” Epra said.

Sh127.46 per litre of petrol

Motorists in Mombasa will continue to pay Sh127.46 per litre of petrol, Sh108.36 for diesel and Sh101.29 while those in Kisumu will pay Sh130.12, Sh111.3 and Sh104.26 for petrol, diesel and kerosene respectively.

Meanwhile, petrol will retail at Sh129.24 in Nakuru, Sh110.43 for diesel and Sh103.39 for kerosene, while motorists in Eldoret will pay Sh130.13, Sh111.32 and Sh104.27 for the three products respectively.

The unchanged prices mean the government will continue use of the fuel subsidy to reimburse fuel suppliers whose margins were cut to zero.

Declining demand

The unchanged prices come despite a fall in the landed cost of fuel between November and December, the period in which most of the fuel that will be used in the new cycle will be used.

The cost of importing fuel fell amid declining demand due to the fast-spreading Omicron variant of Covid-19 which has seen countries reintroduce containment measures that have slowed economic activities.

The average landed cost of petrol fell 4.11 per cent from $627.8/cubic metre to $601.97 for the same quantity last month as that of diesel fell 5.71 per cent to $565.92 down from $600.22, while that of kerosene reduced by 4.89 per cent to $574.85 per cubic metre.

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