Petrol prices rise by Ksh.1.48 as diesel and kerosene costs drop

Petrol prices are set to increase by Ksh.1.48 per litre at midnight on Monday as the Energy and Petroleum Regulatory Authority (EPRA) impacts its mid-month fuel review.

The routine adjustment has however marked an overall cooldown in the costs of all three fuel commodities following notable increases over the past three months.

The cost of diesel is for instance expected to reduce by 12 cents while the purchase of kerosene per litre will be 50 cents lower across the next one month.

EPRA has attributed the cooldown in fuel costs to a marginally decline in the average cost of landed fuel imports during the month of July.

“The changes in this month’s prices are as a consequence of the average landed cost of imported super petrol increasing y 2.65 per cent, diesel decreasing by 1.02 per cent and kerosene by 2.06 percent,” EPRA said.

A litre of petrol in Nairobi will now retail at Ksh.105.43 over the next month to October 14 while the cost of diesel and kerosene in the capital will stand at Ksh.94.51 and Ksh.83.15 respectively.

The general cooldown in costs represents the normalization of crude prices in the international market correcting a sharp correction seen following the re-opening of world economies.

The sharp rise in the fuel import bill seen between June and August wiped out gains to Kenyans costs once again edged upwards.

The cooldown seen in recent weeks is expected to support the current low rate of inflation to sustain a flat cost of living to Kenyans.

August inflation for instance remained flat at 4.36 per cent, the same as July, in spite of a marginal rise in fuel costs during the month.