The petroleum products’ landing cost increment is going to force Kenyans into another 30 days of resilience in the review cycle of November 15th to December 14th, 2024. The average price of diesel itself around the world is 151.73 Kenyan shillings per liter as of November 11th, 2024
The average price of super petrol around the world, as of November 11th, 2024, retails at 161.16 Kenyan shillings per litter. Kenya is a non-oil-producing country and is currently importing all its refined petroleum products on the basis of international market pricing benchmarks.
However, Kenya is among the African countries with the highest petroleum product costs. This means consumers and businesses have to bear the brunt of global cost volatility, which heightens uncertainties in a fragile economy—occasioned by fragmented taxes, tagring different sectors.
In the November-December cycle review EPRA, the maximum petroleum pump prices remained unchanged due to the paltry increase in the landing cost of Super Petrol and Diesel, which occurred just days after Donald Trump won the US presidency.
“In accordance with Section 101(y) of the Petroleum Act 2019 and Legal Notice No.192 of 2022, the Energy Regulatatory Authority (EPRA) has calculated the maximum retail prices of petroleum products, which will be in force from 15th November 2024 to 14th December 2024.”
“In the period under review, the maximum allowd petroleum pump prices for Super Petrol, Diesel, and Kerosem remain unchanged.”
EPRA has pointed the constant pump prices under the month in review to the average landing cost of imported Super Petrol, which increased by 0.54% from US$637.70 per cubic meter in September 2024 to US$642.14 per cubic meter in October 2024.
However, the landing cost of imported diesel presented a triffling decrease of 4.34% from US$636.22 per cubic meter to US$608.61 per cubic meter in the just-ended month of October.
Kerosene increased by 3.9% from US4\623.39 per cubic meter to US648.15 per cubic meter over the respective period.
The Energy, Petroleum, and Regulatory Authority has asserted that Kenya is currently importing its pertoleum products in the refined and are subject to tradeable pricing in the international markets, denomianated in the United States Dollars (USD) as the global benchmarking currency.
The maximum allowable retail price under the review cycle, effective November 15th to December 14th 2024, will be Kshs180.66, Kshs168.06, and Kshs151.39 for Super Petrol, Diesel, and Kerosene in Nairobi and it’s immediate environs.
In Mombasa, Super Petrol, Diesel, and Kerosene will continue to retail at Kshs 177.42, Kshs 164.82, and Kshs 148.15 per liter, respectively.
The maximum allowable price per liter for Super Petrol, Diesel, and Kerosene will retail at Kshs180.68, Kshs168.44, and Kshs151.82, respectively, in the 30 days in Kisumu.
