The Energy and Petroleum Regulatory Authority (EPRA) has retained the prevailing fuel prices for the period between February 15 and March 14, 2023.
In a statement, EPRA announced that the price of diesel has been cross-subsidized with that of super petrol while a subsidy of Ksh19.41 per litre has been maintained for kerosene in order to cushion consumers from the otherwise high prices.
“In the period under review, the maximum allowed petroleum pump prices for Super Petrol, Diesel and Kerosene remain unchanged,” EPRA stated.
The retail price per litre of super petrol in Nairobi will be Ksh177.30 while a litre of diesel will retail at Ksh162. A litre of kerosene will sell for Ksh145.94.
Subsidy on fuel prices
“The Government will utilise the Petroleum Development Levy to compensate oil marketing companies for the difference in cost. The Free On board (FOB) price of Murban crude oil lifted in January 2023 was posted at US$ 90.90 per barrel a decrease of 2.81% from US$ 93.53 per barrel in December 2022.
Over the same period, the mean monthly US Dollar to Kenya Shilling exchange rate depreciated by 1.60% from Ksh128.58 per US$ in December 2022 to Ksh130.64 per US$ in January 2023,” added the regulator.
The average landed cost of imported Super Petrol decreased by 0.12% from US$660.65 per cubic metre in December 2022 to US$659.87 per cubic metre in January 2023; diesel decreased by 4.76% from US$818.45 per cubic metre to US$779.49 per cubic metre while Kerosene decreased by 5.10% from US$816.62 per cubic metre to US$774.99 per cubic metre.
EPRA reviews fuel prices once every month.
