Fuel prices have gone up in the monthly review by the Energy Petroleum Regulatory Authority with the costs of petrol, diesel and kerosene increasing by Sh9.90.
In Nairobi, a litre of petrol will retail at Sh144.62 a litre up from Sh134.72, diesel at Sh125.5 up from Sh115.6 while kerosene has also shot up to Sh113.55 per litre.
The new prices will take effect at midnight.
For the last couple of weeks the country has been experiencing fuel crisis with motorists queuing for long for the commodity.
This even as Kenya Pipeline Company insists that the country is well stocked.
Energy and Petroleum Regulatory Authority (EPRA) has warned that it will take action against oil marketers who might have contributed to the biting fuel crisis despite the fact that the country was sufficiently-stocked with fuel. EPRA is categorical that anyone found to have engaged in such activity will face the law.
“Oil Marketing Companies, depot and retail station operators are hereby cautioned that in accordance with Section 99(1)(k) and 99(1)(n) of the Petroleum Act 2019, it is an offence punishable by law to hoard petroleum or to sell above the published price,” EPRA said last week.
Already, Rubis Energy Chief Executive Officer Jean-Christian Bergeron is said to be in trouble over the role of the oil company in the intermittent supply of fuel currently being experienced.
The Government through the Kenya Pipeline Company reiterates that there are enough fuel stocks to meet the demand both for local and regional consumption.
“KPC’s current stock position in all their facilities …indicates that there are over 69 million litres of super petrol, more than 94 million litres of diesel, more than 13 million litres of kerosene and over 23 million litres of jet fuel available,” assured KPC Managing Director, Dr Macharia Irungu.
“Our global stock holding is adequate to serve the region, with more ships in Mombasa queued for discharge,” Dr Irungu added.
In the 2022/23 budget presented last week Thursday, the government spared fuel from the proposed 10% excise duty increase on unnamed commodities as the it explores ways to finance the record high Kshs. 3.31 trillion budget.
“In the Bill, I have also proposed to increase the specific rates of excise duty for a number of products by 10 per cent to generate additional revenue for the Government. Given the recent global increase in oil prices, I have excluded petroleum products from this increase,” said CS Yatani.
