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A reduction in VAT from 16 percent to 8 percent has resulted in cooking gas prices falling between Sh100 and Sh250.
The new retail pricing were not revealed until Monday, despite the fact that the VAT was computed two weeks earlier.
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Since the Finance Act of 2022, which increased the VAT on liquid petroleum gas, the price has fallen (LPG).
The price of refueling a six-kilogram LPG cylinder has dropped between Sh100 and Sh150, while the price of a thirteen-kilogram cylinder has dropped between Sh200 and Sh250.
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At a Westlands Shell station, you may buy Afrigas It is now Sh1,440 instead of Sh1,560 to refill a 6kg cylinder. A 13kg cylinder is now Sh3,100 instead of Sh3,350 to refill.
A 6kg cylinder of Supa Gas may be refilled for Sh1,400 (down from Sh1,500) at a Nairobi National Oil Corporation of Kenya outlet, while a 13kg cylinder can be refilled for Sh3,050 (down from Sh3250).
Instead of charging Sh1,450 to refill a 6kg cylinder, Juja dealer David Muo now charges Sh1,300; for a 13kg cylinder, he charges Sh3,050 instead of Sh2,850
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For all cylinders except international and Pro Gas, Muo maintains the wholesale price per kilogram was initially Sh190.
It was Sh200 per kilogram for international brands (such as OiLibya, Afri and Total), whereas it was Sh202 for Pro Gas.
Muo estimates the price of 1 kilogram of Pro Gas at Sh188, international at Sh185, and other cylinders (other than Pro Gas) at Sh178.
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As a result, the 13kg cylinder’s wholesale price has dropped from Sh2,626 to Sh2,444. Instead of Sh1,128 for 6kg of Pro Gas, wholesalers now pay Sh1,128, a decrease of Sh1.
The Energy and Petroleum Regulatory Authority does not have any authority over the cost of cooking gas.
This demonstrates that its pricing are determined by supply and demand in the market, allowing merchants to choose their own prices.
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For the first time since Russia’s invasion of Ukraine, the price of a barrel of crude oil went below the $95 mark yesterday. This was a decrease of 12 basis points.
Brent, the global benchmark, just dropped to $94.50 per barrel. On February 23, the day before Russia invaded Ukraine, the price was at $96.84.
It is believed that the OPEC meeting on Thursday would result in a significant reduction.
The summit’s primary objective is to examine various nations’ goals and strategies for expanding oil output.
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There is a significant likelihood that oil marketing corporations may consider decreasing LPG pricing now that crude oil prices have dropped.
Cooking gas may now be brought in by private firms, allowing them to choose the price. The open tender system (OTS) allows enterprises to compete to bring in the cheapest LPG via a shared user facility, on the other hand.
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From 450 metric tons to 15,450 metric tons, Ola Energy plans to boost its LPG import handling and storage capacity by the end of 2017. This is an effort to expand our market share in the cooking gas sector.
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In order to make it simpler for Kenya to import cooking gas, the Kenya Pipeline Company (KPC) plans to develop an LPG storage facility at Kenya Petroleum Refineries Ltd (KPRL) (KPRL).
As demand for oil grows in Kenya and throughout East Africa, oil merchants are scrambling to get their hands on a slice of the pie.
The Kenya National Bureau of Statistics said that the quantity of LPG utilized in Kenya increased from 167,200 tonnes in December of last year to 182,540 tonnes in December of this year.
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