Petrol prices increased by 6.6 percent to 122.8 shillings per liter, from 115.2 shillings per liter previously. Diesel prices increased by 5.6 percent to 107.7 shillings per liter, from 101.9 shillings per liter.
Petrol prices increased by 6.6 percent to 122.8 shillings per liter, from 115.2 shillings per liter previously. Diesel prices increased by 5.6 percent to 107.7 shillings per liter, from 101.9 shillings per liter. Kerosene increased by 5.9 percent to 97.9 shillings per liter, from 92.4 per liter.
Those in Nairobi, a liter of Super Petrol will go for 122.81 shillings. Those consuming Diesel are parting with 107.66 shillings while Kerosene users will part with 97.85 shillings.
Those in Mombasa the price for petrol, diesel, and kerosene has been adjusted to 120.41, 105.27, and 95.46 shillings respectively. Kisumu motorists will pay 123.36, 108.46, and 98.68 shillings for Petrol, Diesel, and Kerosene respectively.
According to EPRA, there was an increase in the average landed cost of imported super petrol by 15.0 percent to USD 449.8 per cubic meter in February 2021, from USD 391.2 per cubic meter in January 2021.
There was also a 12.3 percent increase in average landed costs for diesel to USD 424.0 per cubic meter in February 2021, from USD 377.6 per cubic meter in January 2021. The landed cost for kerosene rose to USD 393.2 per cubic meter in February 2021, from USD 347.2 per cubic meter in January 2021.
The 11.5% increase in the Free on Board (FOB) price of Murban crude oil lifted in February 2021 to USD 61.6 per barrel, from USD 55.3 per barrel in January 2021 affected the prices of fuel.
The Kenyan shilling appreciation of 0.2 percent against the dollar to close at 109.7 shillings in February 2021, from 109.9 shillings in January 2021.
“We expect an increase in the transport and fuel index which carries a weighting of 8.7 percent in the total consumer price index (CPI) as a result of the increase in fuel prices,” said Cytonn Investments.
Experts also expect the fuel prices in Kenya to increase in the next months as the global fuel prices are expected to continue increasing, having increased by 32.9 percent to USD 66.8 per barrel this week, from USD 50.2 recorded in December 2020 (OPEC Basket Price).
The increase in the global prices is attributable to the expected rebound in economic growth and the continued reduction of supply by the Organization of the Petroleum Exporting Countries (OPEC).