Kenyans are inconsolable after the Energy and Petroleum Regulatory Authority (EPRA) on Thursday night announced a significantly high increase in the price of petroleum products.

The latest monthly price review by EPRA will see Super Petrol increase by Sh16.96 per litre, Diesel up by Sh21.32 per litre, and Kerosene increase by a staggering Sh33.13 each litre.

The new maximum retail prices of petroleum products will take effect from Friday midnight and remain effective foe the next on month terminating on October 14, 2023.

The revision by regulator will see Super Petrol retail at Sh211.64, Diesel at Sh200.99 and Kerosene at Sh202.61 in Nairobi with towns in many other regions slated to pay more.

EPRA says the new prices include the 16 per cent Value Added Tax (VAT) passed in the divisive Finance Act 2023 and adhere to provisions of the Tax Laws (Amendment) Act 2020.

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EPRA Director General Daniel Kiptoo says the prices were also adjusted based on the revised excise duty rates and accounts for inflation as outlined in Legal Notice No. 194 of 2020.

The authority’s boss says the significant adjustment of these fuel prices was also due to the increased weighted average cost of imported refined petroleum products.

According to EPRA, the average landed cost of imported Super Petrol spiked by 4.80 per cent, from US$739.21 per cubic metre in July 2023 to US$774.67 per cubic metre in August 2023.

In the same period, the landed cost of Diesel also surged substantially by 12.52 per cent, from US$701.99 per cubic metre to US$789.89 per cubic metre.

Kerosene, a lifeline for many Kenyan households, witnessed a remarkable spike in landed cost of 19.79 per cent, from US$690.58 per cubic metre to US$827.26 per cubic metre.

Last month, EPRA retained the previous month’s prices after the application of a subsidy it insisted was a fuel stabilisation strategy leveraging the Petroleum Development Levy (PDL).

Minus the State subsidy (or stabilization), the price of super petrol would have increased to Sh202.01, diesel up to Sh183.26, and kerosene up to Sh175.22 per liter during August.