Trade cabinet secretary Moses Kuria blamed the recent increase in fuel prices to worldwide crude prices.
“Global crude prices are on an upward trajectory,” wrote Kuria on his X (formerly Twitter) account.
He advised Kenyans to plan for tough times ahead further revealing that the prices will increase by KSh 10 monthly till February.
“For planning purposes expect prices to go up by KSh 10 every month till February.”
Fuel prices increase
Energy and Petroleum Regulatory Authority (EPRA) announced new fuel prices on Thursday night.
The new prices are set to take effect on Friday all through until October 15th.
Super Petrol prices have now increased by KSh.16.96 whereas diesel has increased by KSh.21.32,
Kerosene has risen the highest by KSh.33.13 per litre.
Fuel prices increase in compliance to the law
“The prices are inclusive of the 16% Value Added Tax (VAT) in line with the provisions of the Finance Act 2023,” said EPRA’s Director General Daniel Kiptoo Bargoria
Additionally, EPRA complied with “the Tax Laws (Amendment) Act 2020 and the revised rates for excise duty adjusted for inflation as per Legal Notice No. 194 of 2020.”
“The average landed cost of imported Super Petrol increased by 4.80% from USD 739.21 (Ksh.108,516.03) per cubic metre in July 2023 to USD 774.67 (Ksh.113,721.56) per cubic metre in August 2023.”
“Diesel increased by 12.52% from US$701.99 (Ksh.103,052.13) per cubic metre to US$789.89 (Ksh.115,955.85) per cubic metre.”
Consequently, kerosene increased by 19.79% from USD 690.58 (Ksh.101,377.14) per cubic metre to US$827.26 (Ksh.121,441.77) per cubic metre.”