Petrol price shoots to Sh100 in February review

An attendant fuels a car at a petrol station on Koinange street. /FILE
An attendant fuels a car at a petrol station on Koinange street. /FILE

Motorist will have to dig deeper into their pockets following an increase in reviewed fuel prices effective February 15.

The energy regulatory commission reported that Petrol will be sold at Sh4.26 per litre to trade at Sh100 above Sh96.01 that it traded at in January.

Diesel and Kerosene on the other hand increased by Sh5.03 and Sh3.75, therefore to trade at Sh89.26 and Sh67.19 respectively.

Kenyans are likely to pay more for transport whereas households that rely on the fuels for energy are likely to be forced to stretch their budgets.

Robert Oimeke, acting Energy Regulatory Commission director general, said the changes are a consequence of increased landing cost of fuel at Mombasa Port.

"The increase in retail pump prices is driven by an upswing in the prices of refined petroleum products," the commission said in its Website on Tuesday.

Oimeke said the costs increased by 8.45 per cent from $530.24 (Sh54,959.38) per ton of super petrol in December last year to $575.06 (Sh59,604.97) in January.

Diesel increased by 12.07% from US$ 446.84 (Sh46,314.97) per ton to US$ 500.78 (Sh51,905.85) per ton and Kerosene increased by 7.44% from US$ 487.91 (Sh50,571.87) per ton to US$ 524.20 (Sh54,333.33) per ton.

"The trend has been amplified by a slight depreciation of the exchange rate between the Kenya Shilling and the US dollar," the ERC boss said.

In January, the commission reviewed prices higher safe for diesel and kerosene which decreased by Sh 2.99 and Sh0.12 per litre.

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In Mombasa, the cost of a litre of super petrol has risen to Sh96.85 from

Sh92.50; diesel will retail at Sh 85.87 - rising from Sh80.85.

Kerosene will retail at Sh64.34 from the Sh60.60 per litre that it traded at in the previous month.

In Nakuru, a litre of super petrol will retail at Sh101.00 from Sh96.76 while diesel will cost Sh90.19; Kerosene will be sold at Sh68.06 per litre.

Motorists in Eldoret will pay Sh100.27 for a litre of super petrol;

Sh89.26 for diesel whereas Kerosene will be bought at Sh67.19 per litre.

ERC further attributed the increased costs to the price of crude oil in world markets which has risen by 20 per cent between November 2016 and January 2017.

"This led to an increase in the prices of refined petroleum products," the energy regulator said, "

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