Fuel prices go up
Aug 14, 2005
PUMP prices for fuel shot up yesterday by sh100, just a month after another increment prompted by an increment on taxes for petrol and diesel.
By Herbert Ssempogo
PUMP prices for fuel shot up yesterday by sh100, just a month after another increment prompted by an increment on taxes for petrol and diesel.
Petrol rose from sh2,100 to sh2,200. Diesel rose from sh1,790 to sh1,890, while Kerosene rose from sh1,550 to sh1,650.
By about 1:00pm yesterday, Kobil fuel station in Bugolobi, a Kampala city suburb, had fixed the new prices on its billboard.
However, fuel stations like Engen, Shell and Total in various city locations had not yet adjusted their prices.
Shell (U) Boss Ivan Kyayonka said, “I am not aware of the reason for the increment. I have to go and check on the exchange rate and market conditions among other things,†he said.
On July 11, the pump price for petrol rose to sh2,100 from sh1,990, while diesel rose from sh1,710 to sh1,790. However, the price for Kerosene did not change.
The increment followed a sh710 tax increment on petrol and sh450 increment on diesel.
Kenya recently changed rules on oil importation. The change is likely to cause regional shortages and increase in prices. Under new rules, oil dealers have to pay taxes on oil products in stages within a month of their release from the refinery at the port of Mombasa instead of paying after selling the products.
Ends
PUMP prices for fuel shot up yesterday by sh100, just a month after another increment prompted by an increment on taxes for petrol and diesel.
Petrol rose from sh2,100 to sh2,200. Diesel rose from sh1,790 to sh1,890, while Kerosene rose from sh1,550 to sh1,650.
By about 1:00pm yesterday, Kobil fuel station in Bugolobi, a Kampala city suburb, had fixed the new prices on its billboard.
However, fuel stations like Engen, Shell and Total in various city locations had not yet adjusted their prices.
Shell (U) Boss Ivan Kyayonka said, “I am not aware of the reason for the increment. I have to go and check on the exchange rate and market conditions among other things,†he said.
On July 11, the pump price for petrol rose to sh2,100 from sh1,990, while diesel rose from sh1,710 to sh1,790. However, the price for Kerosene did not change.
The increment followed a sh710 tax increment on petrol and sh450 increment on diesel.
Kenya recently changed rules on oil importation. The change is likely to cause regional shortages and increase in prices. Under new rules, oil dealers have to pay taxes on oil products in stages within a month of their release from the refinery at the port of Mombasa instead of paying after selling the products.
Ends