The Energy and Petroleum Regulatory Authority (EPRA) has announced that fuel prices will not change between January 15 and February 14, 2023.
In Nairobi, a litre of super petrol will continue to cost Ksh177.30 , while a litre of diesel will cost Ksh162. Kerosene will continue to be sold for Ksh145.94 per litre.
"In accordance with the Finance Act of 2018, the Tax Laws (Amendment) Act of 2020, and the revised rates for excise duty that have been adjusted for inflation in accordance with Legal Notice No. 194 of 2020," stated EPRA.
According to EPRA, the average landed cost of imported super petroleum decreased by 6.19 percent from US$704.21 per cubic meter in November 2022 to US$660.65 per cubic meter in December 2022, while the average landed cost of diesel decreased by 11.08 percent from US$920.44 per cubic meter to US$818.45 per cubic meter. From US$851.31 per cubic meter to US$816,62 per cubic meter, the price of kerosene decreased by 4.07%.
In other news,the price of diesel has been subsidized in conjunction with the price of super petroleum , while the price of kerosene has remained at Ksh25.13 per litre. The Petroleum Development Levy will be used by the government to compensate oil marketing companies for the cost difference.
In December 2022, the Free On Board (FOB) price of Murban crude oil increased to US$ 93.53 per barrel, up 1.17 percent from US$ 92.45 per barrel in November 2022. The mean monthly exchange rate between the US Dollar and Kenya Shilling decreased by 3.53 percent during the same time period, going from Ksh124.20 per US Dollar in November 2022 to Ksh128.58 per US Dollar in December 2022.
Share your views.
Content created and supplied by: TheeUpdater (via Opera News )
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform See More