The Energy and Petroleum Regulatory Authority’s (EPRA) has announced an increase in petrol prices by Sh5 in a move that is expected to raise the country’s cost of living between March 15 and April 14, 2022.
In a revised adjustment today, Super Petrol and Diesel will retail at Sh134.72 and Sh115.60 per litre, respectively.
The prices are inclusive of the 8 per cent 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.
It is the first increase since November 2021, in what sources said is linked to the crisis between Ukraine and Russia.
The average landed cost of imported super petrol increased by 13.34 per cent from USD596.79 per cubic metre in January 2022 to USD676.40 per cubic metre in February 2022; Diesel increased by 11.74 per cent from USD606.16 per cubic metre to USD677.31 per cubic metre.
The landing cost of kerosene also increased by 15.94 per cent from USD534.38 to USD619.57 per cubic metre.
According to EPRA, the government will utilise the Petroleum Development Levy to cushion consumers from the otherwise high prices.
