CS John Munyes summoned over the rampant increase in fuel prices
According to Epra, the changes in prices were a result of the average landed cost of imported super petrol increasing by 20.93 per cent from US$323.52 per cubic metre in December 2020 to US$391.24 per cubic metre in January 2021.
“Epra wishes to assure the public of its continued commitment to the observance of fair competition to the observance of fair competition and protection of the interests of both consumers and investors in the energy and petroleum sectors,” Epra acting director general Daniel Kiptoo said.
In the same period diesel increased by 13.64 per cent from US$332.22 per cubic metre to US$377.55 per cubic metre and Kerosene increasing by 14.60 from US$302.97 per cubic metre to US4347.19 per cubic metre.
Over the same period, the mean monthly US Dollar to Kenya Shillings exchange rate appreciated by 0.57 per cent from Sh110.52 per dollar in December 2020 to Sh109.89 per dollar in January.
A litre of petrol retail in Nairobi stands at Ksh.122.81 while diesel and kerosene retails at Ksh.107.66 and Ksh.97.85 per litre respectively.
The cost of petrol now sits at more than Ksh.120 per litre across the country with Mombasa which pays the lowest for the commodity parting with Ksh.120.41.
Higher petroleum costs has exerted pressure on consumer spending affecting the pricing of other commodities including electricity bills and even food prices.
The government fuel taxation has come under sharp scrutiny with taxes and levies representing nearly half the total cost.
Out of the Ksh.122.81 represents the new petrol pump price in Nairobi, Ksh.57.33 represents taxes which includes a Ksh.5.40 controversial petroleum development levy which was raised from 40 cents at the end of last year.
The landed cost of petrol stands at Ksh.49.84 while storage and distribution costs and margins to oil marketing companies amount to Ksh.3.25 and Ksh.12.39 per litre respectively.
