Short-lived relief as fuel prices increase in latest ERC review

In Summary

• The Energy Regulatory Commission said a litre of super petrol has increased by Sh1.26

• Diesel has increased by 65 cents and kerosene by Sh2.96

Motorists will now dig deeper in their pockets to fuel their vehicles after petrol prices went up in the latest ERC review.

The  Energy Regulatory Commission said a liter of super petrol will increase by Sh1.26.

diesel by 65 cents and kerosene by Sh2.96.

This means super petrol, diesel and kerosene will retail at Sh101.35, Sh96.61 and Sh99.46 respectively in Nairobi from Thursday midnight.

The commission attributed the hike to an increase in the landed cost of diesel by 2.79 per cent from US$ 546.42 per ton in January to US$ 561.64 per ton in February.

It said the landed cost of Kerosene went up by 9.16 per cent from US$ 595.75 per ton to US$ 650.29 per ton.

In last month's review, super petrol, diesel and kerosene shade off Sh4.12, Sh6.28 and Sh5.20 to retail at Sh100.09, Sh95.96 and Sh96.50 respectively.

"The changes in this month’s prices have been as a consequence of the average landed cost of imported Super Petrol increasing by 3.71% from US$ 548.20 per ton in January 2019 to US$ 568.55 per ton in February 2019,” read part of a statement.

The pump prices are inclusive of 8 per cent VAT in line with the provisions of the Finance Act, 2018.

“Taking into account the weighted average cost of imported refined petroleum products, the changes in the maximum allowed petroleum pump prices in Nairobi are as follows: Super Petrol, Diesel and Kerosene increase by Sh 1.26, Sh 0.65 and Sh 2.96 per litre respectively,” the statement quoted.

The new pump prices will remain effective until April 14.