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Motorists lose in fuel price hike as retailers gain

THE STANDARD
BUSINESS
Motorists using super petrol will have to dig deeper into their pockets after the government increased the price of the fuel by Sh3.56 per litre, pushing the cost to Sh126.37 in Nairobi.
Users of diesel and kerosene were, however, spared the hike with the cost of the two products remaining unchanged for the third consecutive month.
In its latest price guideline released yesterday, the Energy and Petroleum Regulatory Authority (Epra) also restored the margins for oil marketing companies, which had been slashed last month in a move to cushion Kenyans from a price increase.
“In the period under review, the price for super petrol increases by Sh3.56 per litre while that of diesel and kerosene remains unchanged,” said Epra in a statement signed by acting director-general Daniel Kiptoo. ....

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Kenya to pay oil marketing firms for not increasing April fuel prices

The East African
Monday May 10 2021
A vessel offloads fuel at Kipevu Oil terminus within the port of Mombasa. Importation of super petrol, diesel and kerosene into Kenya is undertaken through the Open Tender System. PHOTO | NMG
Summary
Under the agreed plan, the oil marketers will be compensated based on the value of cargo volumes factored in the pricing formula for the April-May pump prices computation, with the refund rate being equivalent to the margin reduction per litre per product for pump prices in Nairobi for the period April 15 to May 14.
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Kenya’s Ministry of Petroleum and Mining has agreed on a plan to compensate disgruntled oil marketing companies (OMCs) for the lower profit margins they made in April by not increasing pump prices. ....

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Epra defends itself over fuel price hike, blames formula

This has put pressure on the Energy and Petroleum Regulatory Authority (Epra), which is legally mandated to announce monthly fuel price reviews, with demands to reverse the shocking increments and to suspend the new prices.
Following the uproar, the agency Tuesday argued that it determines the prices using a predetermined formula, which is enshrined in law.
Epra said pricing of petroleum in Kenya is undertaken in accordance with the Energy (Petroleum Pricing) Regulations, 2010, adding that the country imports refined petroleum products for local consumption.
Incremental costs
“The Regulations detail a formula for determining the landed cost of imported petroleum products and thereafter other costs along the petroleum supply chain are added to arrive at the pump price,” Epra said in the statement. ....

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Petroleum CS John Munyes Defends Rising Fuel Prices

Petroleum CS John Munyes Defends Rising Fuel Prices
nairobiwire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nairobiwire.com Daily Mail and Mail on Sunday newspapers.

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High taxes drive up Kenya's fuel prices

news
High taxes drive up Kenya s fuel prices
by MARTIN MWITA
A fuel attendant busy at the Kobil petro station along Koinange Street yesterday,despite increase in fuel prices announced by ERC most stations had not adjusted the fuel price.Photo/Philip kamakya.
The landed cost of a litre of petrol last month was Sh49.84, Sh46.82 for diesel and Sh42.96 for kerosene.
Households are facing a likely increase in the cost of living as traders pass on high production and transport bills to consumers.
The government s appetite for higher revenue remains among the biggest causes of pain at the pump as Kenyans witness month-on-month rises in fuel prices. ....

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