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November 20, 2017

Motorists to feel pinch as ERC hikes fuel prices

"The commission assured the general public of its continued commitment to the observance of fair competition and protection of interests." /FILE
"The commission assured the general public of its continued commitment to the observance of fair competition and protection of interests." /FILE

Motorists will have to dig deeper into their pockets as fuel prices have increased by Sh1.03 for a litre of super petrol and Sh3.70 for a litre of diesel.

The Energy Regulatory Commission has also said in its review that by midnight a litre of kerosene will cost Sh5.05 more.

It said the changes were because the average landed cost of imported super petrol increased by 1.42 per cent from US$ 601.97 per ton in September to US$ 610.50 per ton in October.

Diesel's price  increased by 6.31 per cent from $508.56 to $540.66 per ton, while kerosene's rose 8.12 per cent from $517.54 to $559.58 per ton.

The commission said the Free On Board price of Murban crude oil lifted in October 2017 was $58.10 per barrel, an increase of 4.31 per cent.

Over the same period , the commission said the mean monthly US dollar to Kenya shilling exchange rate depreciated by 0.37 per cent from Sh103.12 per US dollar in September to Sh103.51 n October.

Acting director general Robert Oimeke said the actual pipeline loss factor has been calculated at 0.08 per cent which is a reduction from the previous 0.025 per cent.

Accordingly, Oimeke said, the savings per litre on account of the reduced pipeline loss are Sh0.15 for super petrol, Sh0.13 for diesel and Sh0.10 for kerosene.

"The commission wishes to assure the general public of its continued commitment to the observance of fair competition and protection of interests of both consumers and investors in the energy sector," Oimeke said.

 

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