Price Of Petrol, Diesel, And Kerosene Retained By EPRA

The Energy and Petroleum Regulatory Authority (EPRA) released its monthly statement on the maximum wholesale and retail prices for fuel prices in Kenya effective 15^th August 2021 to 14^th September 2021.

The price of Super Petrol, Diesel, and Kerosene remained unchanged at 127.1, 107.7, and Kshs 97.9 shillings per liter, respectively, despite the increased landed cost of imported crude. This is the fifth consecutive month that the Diesel and Kerosene prices have remained unchanged.

The average landed costs for Super Petrol increased by 6.2 percent to USD 552.4 per cubic meter in July 2021, from USD 520.0 per cubic meter in June 2021.

The average landed costs for Diesel increased by 7.4 percent to USD 514.3 per cubic meter in July 2021, from USD 479.0 per cubic meter in June 2021.

The average landed costs for Kerosene increased by 9.8 percent to USD 493.5 per cubic meter in July 2021, from USD 449.4 per cubic meter in June 2021.

The Free on Board (FOB) price of Murban crude oil increased by 5.3 percent in July 2021 to USD 66.7 per barrel, from USD 63.4 per barrel in June 2021.

At the same time, the Kenyan shilling depreciated by 0.4 percent against the dollar to close at 108.3 shillings in July 2021, from 107.8 shillings in June 2021.

“We expect the upward pressure on the inflation basket going forward to remain muted given the stabilizing global oil prices – the prices have declined by 4.7 percent in the first half of the month of  August 2021, compared to a 46.5 percent increase in H1’2021,” said Cytonn.

Further, the global oil prices are expected to remain stable due to (i) increased supply from non-OPEC oil-producing countries, and, (ii) slowdown in global economic recovery, and (iii) a slower demand growth due to the new COVID-19 variants and related restrictions.

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