New tariffs added on petroleum products, further increasing fuel prices
New tariffs have been added on petroleum products by EPRA, further increasing fuel prices amid the high cost of living.
Following the Energy and Petroleum Regulatory Authority’s decision to approve new tariffs for oil marketers, Kenyans should expect to continue paying higher prices for petroleum products.
Marketers will now pay Ksh2,526.6 per cubic metre for fuel withdrawn from the Kenya Pipeline Company (KPC) storage in Nairobi, an increase from Ksh2,074.5.
At the moment, a litre of gasoline costs Ksh178.30, a litre of diesel Ksh163, and a litre of kerosene Ksh146.94. However, the reassessment of tariffs will cause the expense to be passed on to consumers, raising the cost of fuel.
According to financial experts, fuel costs may change in the following three years as a result of the new tariffs.
“The Energy and Petroleum Regulatory Authority has reviewed and approved the applicable Kenya Pipeline Company’s multi-year pipeline transport tariff for the tariff control period 2022/2023-2024/2025,” EPRA Director General, Daniel Kiptoo, stated on Friday, November 4.
“The effective date of the above set of tariffs is October 15, 2022, and subsequent adjustments for the next tariff control period will be July 15 of every year,” EPRA added without revealing a new scheme that would be employed to standardize fuel prices in the country.
Defending the move to increase the depot tariffs, KPC argued that the extra money collected would help the company improve its structures.
KPC added that the funds collected would be critical in constructing a new pipeline from Mombasa to Nairobi, thus enhancing efficiency and, in the long term, reducing the cost of evacuating fuel.
Also, EPRA approved the increase following a series of public participation forums throughout the country.
Before the exercise, EPRA had projected that fuel prices would increase by 54 cents per litre in Nairobi.
In Nakuru, it was projected to increase by 42 cents and while in Eldoret by 29 cents a litre. New fuel prices will be announced on Monday, November 14.
Also read,
Ruto tells off Raila over extrajudicial killings probe linked to DCI Cops
Kenyan youth most concerned in Africa over joblessness/unemployment; Report
Kenya donates food relief to Somalia
Follow us
