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September 25, 2018

Petrol prices rise in ERC review

The new price at Shell petrol station Westlands on January 11,2018.
The new price at Shell petrol station Westlands on January 11,2018.

Petrol prices went up yesterday but it was a slight relief for those who use diesel and kerosone.

In new prices announced by the Energy Regulatory Commission yesterday, motorists will pay an extra Sh1.53 bringing a litre of petrol to Sh113.73 in Nairobi.

The price of diesel is down by Sh0.51 to retail at Sh102.74 while that of kerosene was also reviewed downwards by Sh0.78 to Sh84.95 in Nairobi.

In the latest review petrol in Mombasa will cost Sh110.42, diesel Sh99.44 and kerosene Sh82.16. In Eldoret, a litre of petrol will go for Sh115.57 and diesel Sh104.81, while in Kisumu, petrol will sell at Sh115.64 per litre and diesel at Sh104.88.

Motorists in Nakuru will pay Sh114.39 for petrol and Sh103.63 for diesel.

“ The changes have been as a consequence of the average landed cost of imported fuel products,” ERC director general Pavel Oimeke said.

The landed cost of Super Petrol increased by 3.08 per cent from Sh74,416.3 per ton in June 2018 to Sh76,710.93 per ton. The price of diesel increased by 0.18 per cent from Sh68403.59 to Sh68,823.77 while that of Kerosene decreased by 1.32 per cent to Sh72,688.78 from Sh73,660.82 per ton.

“Over the same period, the mean monthly US dollar to Kenya Shilling exchange rate appreciated by 0.41 percent from Sh101,01 in June 2018 to Sh101.60 in July 2018,” Oimeke said in statement detailing the new prices.

However next month, prices are expected to go higher when the the 16 percent VAT levy on petroleum products takes effect.

If implemented, the new prices will take effect on September 1 and will see an increase of about Sh15 to Sh17 per litre of fuel.

Oimeke said that prices in Kenya were cheaper than in the US, Germany and the UK.

While that is yet to be implemented, Matatu Owners Association has already issued a warning that they will pass new charges to commuters leading to an increase in fare prices across the country. The move is likely to increase the cost of living.

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