This archive report was first published on 15 June 2020.
On Sunday, the Energy and Petroleum Regulatory Authority (EPRA) issued a review that will see the prices of super petrol increase per litre, while diesel and kerosene prices are set to reduce.
According to EPRA Director-General Pavel Oimeke, the computation of the pump prices has taken into account the changes effected by the Tax Laws (Amendment Act of 2020), which made taxes and duties part of the vatable amount in the calculation of VAT for petroleum products.
As of May 2020, the Free on Board Price of Murban crude oil was posted at USD23.52 per barrel, an increase of 33.33% from USD17.64 per barrel in April 2020.
Consequently, fuel will be most expensive in Mandera, where a litre of petrol will retail at Ksh102.14, diesel at Ksh87.61, and kerosene at Ksh75.51.
EPRA warned last week that Oil Marketing Companies (OMCs) and retail station dealers risk a one-year jail term or a one million shillings fine, including revocation of their licenses, for hoarding petroleum products.
“The country has sufficient petroleum stocks. However, preliminary investigations indicate that a number of OMCs are deliberately holding back sales to non-franchised petroleum retailers in anticipation of a price increase,” said Mr. Oimeke.
