In the latest pricing index released on Saturday, August 14, 2021, EPRA noted that prices of petrol, diesel and kerosene will remain unchanged for the next 30 days.
The retail prices will remain at Ksh127.14 for petrol, Ksh107.66 for diesel and Ksh97.85 for kerosene in Nairobi and its environs.
The prices are inclusive of 8% Value Added Tax (VAT), in line with the provisions of the Finance Act 2018, The Tax Laws (Amendment) Act 2020, and the reviewed rates for excise duty that were adjusted for inflation as per Legal Notice No. 194 of 2020.
Diesel and kerosene prices largely remain the same since May 2021 while Petroleum remain unchanged from June.
In Mombasa, petrol will retail at Ksh124.72, diesel at Ksh105.27 while kerosene will sell at Ksh95.46.
EPRA further indicated that the mean monthly US Dollar to Kenya Shilling exchange rate depreciated by0.41 per center Ksh107.82 per US Dollar in June to Ksh108.26 in July.
While appearing before the Senate Committee of Energy on Friday, July 30, Mining and Petroleum Chief Administrative Secretary (CAS) John Musonik explained that the state would maintain the monthly price of fuel largely due to the set up a Petroleum Development Fund (PDF).
He noted that PDF aimed at cushioning Kenyans when the price per barrel crosses $50 (Ksh5,486) mark.
So far, crude oil barrel averages at $63 dollars (roughly Ksh6,300).
“From April, we have been using the fund. For now, we are going to stabilise the prices as we look at all the other components in the pricing,” stated Musonik according to Business Daily.
The fund has so far raised Ksh15 billion and saved Kenyans as much as Ksh14.59 on diesel and Ksh19.54 on Kerosene.
More to follow…