The Energy & Petroleum Regulatory Authority has announced a price increase of Kes 2.0 per litre for Super Petrol, effective from March 15th to April 14th, 2023. However, the prices of Diesel and Kerosene will remain unchanged for the same period.
The new prices for Super Petrol in Mombasa and Nairobi will be KES 176.98 and KES 179.30 per litre, respectively. As for Diesel, it will continue to retail at the same price as before, which is KES 159.76 per litre in Mombasa and KES 162.00 per litre in Nairobi during the March 15th to April 14th, 2023 pricing cycle.
EPRA Director General Daniel Kiptoo explained in a press release that there was a slight decrease of 0.06% in the average landed cost of imported Super Petrol, which went down from US$659.87 per cubic metre in January 2023 to US$659.47 per cubic metre in February 2023.
On the other hand, Diesel decreased by 2.52% from US$779.49 per cubic metre to US$759.88 per cubic metre, and Kerosene decreased by 1.51% from US$774.99 per cubic metre to US$763.28 per cubic metre.
EPRA further stated that the price of Diesel has been cross-subsidized with that of Super Petrol, while Kerosene has been subsidized with KES 23.49 per litre to cushion consumers from high prices during the March 15th to April 14th, 2023 pricing cycle.
On Monday, Davis Chirchir, Kenya’s Minister for Energy and Petroleum, declared that the government had inked a deal with Saudi Aramco and Emirates National Oil Co. to provide petroleum products to the country, as part of the government’s strategy to take over oil imports.
Saudi Aramco will supply two diesel cargo consignments monthly, while ADNOC will supply three cargo consignments of super petrol monthly.
Under the terms of the agreement, the Kenyan government will have the option to purchase petroleum products on credit, allowing them to pay for the products at a later date.
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