In Kenya, gasoline rises to 226.96 shillings per litre — Nation Kenya

In Kenya, the Energy and Petroleum Regulatory Authority (EPRA) has raised fuel prices in Nairobi. From midnight, a litre of gasoline costs 226.96 Kenyan shillings, 12.93 shillings more than before. The price of diesel rose by 9.90 shillings, to 227.76 shillings per litre.

Kerosene saw the largest increase

A litre of kerosene rose by 28.49 shillings, to 219.87 shillings. As Nation Kenya reports, the increase occurred despite the government's extension of the reduced value-added tax rate for petroleum products. In April, the VAT rate on fuel was reduced from 16% to 8%, and this regime has now been extended for another three months, until mid-December.

Impact of the global market

The publication links the rise in retail prices to higher prices for refined petroleum products on the global market amid the renewed conflict in the Middle East. According to its data, last month the cost of delivered refined petroleum products reached its highest level in more than a decade. Brent crude was priced at $105.98 per barrel on Wednesday.

More current news is available on the UA.News Telegram channel Telegram.

Diesel in Kenya is used in transport, agriculture, industry and electricity generation. Nation Kenya notes that more expensive fuel may intensify inflationary pressure, as goods producers, farmers and service providers will factor higher costs into their prices. Last month, inflation in the country reached 6.8%.

Kenya's Ministry of Energy and Petroleum warned in June that funds allocated for fuel subsidies were being rapidly depleted. The subsidy fund is financed through the petroleum development levy, which amounts to 5.40 shillings per litre of gasoline and diesel and 0.40 shillings per litre of kerosene.