For the next one month, motorists will have to feel a slight pinch in their pockets following an increase in the prices of Diesel and Petrol announced by Energy and Petroleum Regulatory Authority.
In the new prices, a liter of super petrol has gone up by 0.28 shillings while that of diesel has increased by 2.44 shillings. Those who use kerosene have a reason to smile as the price has been brought down by 3.31 shillings.
“The pump prices are inclusive of 8 percent Value Added Tax (VAT) in line with the provisions of the Finance Act 2018 and the revised rates for excise duty adjusted for inflation,” said the commission in a statement.
According to the commission, the changes for this month’s prices have been informed by the change in the landed cost of imported fuel. The landed cost for super petrol dropped by 0.22 percent from USD 498.46 per cubic meter in July 2019 to USD 497.36 per cubic meter.
The landed cost of diesel rose by 4.38 percent from USD 482.47 per cubic meter to USD 503.61 per cubic meter. The landed cost for kerosene dropped by 5.61 percent from USD 513.10 per cubic meter to USD 484.29 per cubic meter.
