The price of Super Petrol yesterday was increased by Sh5.72 litre, Diesel by Sh4.48 litre and Kerosene by Sh2.45 litre in this month’s review by energy regulator EPRA.
This means a litre of super petrol will retail at Sh217.36 in Nairobi, diesel at Sh205.47 while kerosene will retail at Sh205.06.
The state has cushioned consumers from the projected increase through a stabilisation mechanism to be funded by the Petroleum Development Levy (PDL) in line with the Petroleum Development Levy, Order of 2020.
Without the subsidy, a litre of super Petrol was to increase by Sh8.79, diesel by Sh16.12 and Kerosene by Sh12.05.
According to EPRA, the situation would have been worse were it not for the Government-to-Government arrangement that has resolved the USD liquidity challenges that the petroleum sub-sector was faced with before April 2023 when the programme started.
It has since slowed down the rate of depreciation of the shilling, with the local currency closing the week at 149.20 units against the dollar.
To date, the Government has been successful in delivering 41 petroleum import cargoes under the G-to-G programme and in recent times, re-negotiated for the reduction of Premiums with the suppliers with the highest reduction being $30/metric tonne for Diesel which has been reflected in the current pricing cycle.
In last month’s price review, fuel prices crossed the Sh200 mark for the first time hitting a high of Sh211.64 per litre of petrol in Nairobi after a Sh16.96 increase.
Diesel went up by Sh21.32 while Kerosene increased by Sh33.13 to retail at Sh200.99 and Sh202.61 per litre in Nairobi respectively for the September-October cycle which ends on Saturday at midnight.