Home Breaking Pain At The Pump As Fuel Prices Hike Exponentially In February 2021...

Pain At The Pump As Fuel Prices Hike Exponentially In February 2021 Review –


Motorists will dig deeper in their pockets for fuel in the next 30 days, as the prices of Super Petrol, Diesel and Kerosene increase by Ksh8.19, Ksh5.51 and Ksh5.32 per litre respectively.

This is according to o price review by the Energy and Petroleum Regulatory Authority (EPRA), which puts the retail price per litre of Super Petrol, Diesel and Kerosene at Ksh115.18, Ksh101.91 and Ksh92.44 in Nairobi starting midnight.

“The prices are inclusive of the 8% 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.” said EPRA in a statement.

The Free On board (FOB) price of Murban crude oil lifted in January 2021 was posted at US$ 55.27 per barrel an increase of 11.50% from US$ 49.57 per barrel in December 2020.

Over the same period, the mean monthly US Dollar to Kenya Shilling exchange rate appreciated by 0.57% from KSh110.52 per US$ in December 2020 to KSh109.89 per US$ in January 2021.

Below is the chart highlighting fuel prices in different towns:-

Email your news TIPS to news@kahawatungu.com or WhatsApp +254708677607. You can also find us on Telegram through www.t.me/kahawatungu



Source link