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PUMP PRICES

Kenyans paying Sh15 more for petrol compared to February

In Summary

• Super Petrol and Diesel increases by Sh3.07, Sh0.39 respectively as Kerosene drops by 0.43%.

• The regulator says the changes in this month's prices have been as a consequence of the average landed cost of imported Super Petrol increasing by 4.45 per cent.

Star's illustration of fuel increase
Star's illustration of fuel increase

Motorists across the country will have to dig deeper into their pockets to keep cars on the road.

This is the fourth price increase this year with petrol now costing Sh15 more than between February 15 and March 14.

This is after Energy Regulatory body ERC announced an increase in fuel prices.In the new prices to run effective from June 15 to July 14.

ERC said Super petrol will retail at an increased price of Sh3.07 while diesel retails at an increased price of Sh0.39 per litre respectively.

 

The regulator's Director General said the changes in this month's prices have been as a consequence of the average landed cost of imported Super Petrol increasing by 4.45 per cent.

"The current pump prices are inclusive of 8 percent Value Added Tax in line with the provisions of the Finance Act2018," Robert Oimeke said.

 

Oimeke said Diesel had also increased by o.52 per cent but kerosene decreased by 0.43 per cent.

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

In Nairobi, petrol will retail at Sh115.10 per litre, diesel Sh104.76 and Kerosene at Sh104.28 per litre respectively.

This is slightly higher than Mombasa where the pump prices for petrol, diesel and kerosine will be Sh112.45, Sh102.13 and Sh101.65 respectively.

Busia and Migori counties will record the highest prices at Sh118 for petrol followed by Kisumu and Eldoret at Sh116.57 per litre for petrol.

 

In last months' review, ERC said motorists and households would have  to dig deeper into their pockets to cater for the comodity.

The regulator announced Super Petrol, Diesel and Kerosene in Nairobi will increase by Sh5.25, Sh5.52 and Sh2.76 per litre respectively.

The new prices will be in force from April 15 to May 14, 2019.

This was largely blamed for by the US sanctions on Iran oil which would likely take  a toll on fuel consumers in country.

US is blaming Iran of using its oil revenue to fund Strait of Hormuz, an Islamic terrorist organisation.

US officials also reported that there were close to million barrels per day of Iranian crude oil left, and plenty of supply in the market to ease that transition and maintain stable prices.

Iran is one of the leading oil producers in the world, mostly exporting to large economies including Russia, China, Turkey, India and Japan.

This means these countries will have to source for new import markets, pushing up demand hence increasing prices.