As per the evaluation published by the Energy and Petroleum Regulatory Authority (EPRA), Super Petrol would continue to be priced at Ksh217 for the foreseeable future.

But in Nairobi, the retail prices of diesel and kerosene have been marginally lowered by Ksh. 2 per liter, to Ksh. 203.47 and Ksh. 203.06, respectively.

“The prices are inclusive of the 16% Value Added Tax (VAT) in line with the provisions of the Finance Act 2023, 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 average landing cost of imported Super Petrol increased by 2.81% between September 2023 and October 2023, from US$805.14 per cubic meter to US$827.75 per cubic meter, according to the petroleum regulatory authorities. This is the reason for the new rates.

Simultaneously, the average landing cost of Kerosene dropped by 6.31% from US$868.70 per cubic meter to US$813.90 per cubic meter, and the average landed cost of Diesel grew by 3.28% from US$845.72 to US$873.42 per cubic meter.

The Government says it has chosen to stabilize pump prices for the November–December 2023 pricing cycle by paying the oil marketing corporations in order to protect customers from the jump in pump prices that resulted from the increased landing costs.

“The National Treasury has identified resources within the current resource envelope to compensate Oil Marketing Companies,” says EPRA. 

According to EPRA, Super Petrol would have retailed for Ksh. 229.37 without the intervention to compensate the oil marketers, while Diesel and Kerosene would have sold for Ksh. 223.29 and Ksh206.70, respectively.