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ERC reduces petrol prices but increases diesel prices

By Fredrick Obura | Published Wed, March 14th 2018 at 11:53, Updated March 14th 2018 at 12:04 GMT +3
Peter Mikisi a petrol station attendant in Nakuru fuels a car. [Photo by Kipsang Joseph/Standard]

NAIROBI, KENYA: Households using Kerosene will still pay more for the commodity as Energy Regulatory Commission (ERC) adjusts the price by Sh0.70 per litre.

In the adjustment which covers March and April, motorists using super petrol will pay less by Sh0.46 per litre while those using diesel to pay Sh0.90 more per litre.

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The Commission said the changes in this month’s prices have been as a consequence of the average landed cost of imported super petrol decreasing by 1.26 percent from $688.76 per ton in Januarythis year to $680.05 per ton in February.

Diesel on the other hand increased by 4.22 percent from $593.45 per ton and kerosene increasing by 3.45 per cent from $645.7 per ton to $668 per ton.

Other factors considered in determining the retail prices of fuel include the position of the Kenyans currency against the US Dollar.

Over the same period, the mean monthly US Dollar to Kenya Shilling exchange rate appreciated by 1.21 per cent from Sh102.6 per dollar in January 2018 to Sh101.4 per dollar in 2018.

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The purpose of the fuel pricing regulations is to cap the pump prices of the products which are already in the country, so that the importation and other prudently incurred costs are recovered.