Abigail Okunade
As the Russian invasion of Ukraine continues to affect the price of crude oil and refined products, Kenyans will from Tuesday pay more for fuel, the petroleum regulator said on Monday.
“In the period under review, the pump prices of Super Petrol and Diesel increase by KShs 5.00 per litre respectively while that of Kerosene remains unchanged”, the Energy and Petroleum Regulatory Authority said in its press release.
Kenya’s petroleum subsidy programme has kept fuel prices unchanged for four months in a row.
After Russia invaded Ukraine, Brent crude oil hit a 14-year high. The price of essential commodities is expected to go up in the East African country.
“The prices are inclusive of the 8% 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”, the regulator added.
The regulator said the purpose of the Petroleum Pricing Regulation is “to cap the retail prices of petroleum products which are already in the country, so that importation and other prudently incurred costs are recovered while ensuring reasonable prices to consumers.”
The maximum retail prices are expected to be in force till April 14, 2022.
