Price of super petrol reduces for the first time since February

Motorists will beginning Thursday enjoy slight relief following a reduction in the retail price of super petrol and diesel.

Consumers of kerosene will, however, see an increase in the cost of the commodity, which is used by many Kenyans for cooking and lighting.

Super petrol will come down by Sh2.86 per litre to Sh112.53 in Nairobi while diesel will decline by Sh3.28 to Sh100.60 per litre in the capital. Kerosene will now retail at Sh103.95 per litre, after an increase of Sh1.98 per litre, making it more expensive than diesel.

It is the first time that the cost of petrol has come down since February this year, when it started a climb following to increases in the cost of crude oil at the international markets as well as instances of slight weakening of the local currency against the dollar. It has since climbed up from a relative low of Sh100.90 per litre in Nairobi.

The Energy and Petroleum Regulatory Authority (EPRA) attributed the decline to reduced cost of petroleum products that were imported to the country over July.

“The changes in this month’s prices have been as a consequence of the average landed cost of imported super petrol decreasing 5.64 per cent in July compared to June, diesel decreasing 7.11 per cent and kerosene increasing by 1.88 per cent,” said EPRA in a statement.

EPRA is in the process of reviewing the price capping formula, with the new mechanism of determining the new prices expected to be in place September.