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The Nairobian

Petrol, diesel price up as kerosene drops by Sh2

Business

By -standard reporter | Jul 15, 2013

By Standard Reporter

Motorists will once again have to dig deeper into their pockets to pay for fuel prices. This follows an announcement by Energy Regulatory Commission (ERC) yesterday.

In its regular mid month announcement, the Commission said that the prices for both super petrol and diesel be increased.

However, the agency lowered the price of kerosene, in a move likely to be well received by low-income households.

In a statement, ERC directed that the price of diesel be increased by Sh3.70 per litre to Sh102.86 and that of petrol by Sh1.34 per litre to Sh109.52 in Nairobi, citing an increase in the import price changes.

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“Taking into account the weighted average costs of imported products and of those refined locally, the overall result for Nairobi is that the maximum allowed price of diesel be increased by Sh3.70 per litre and that of petrol be increased by Sh1.34 per litre,” read the ERC statement.

Pump prices for other towns have been adjusted accordingly.

The price of kerosene will however be decreased by Sh2.03 per litre to Sh79.49. This is the first time in four months during which motorists will have to pay more for fuel.

weak shilling

The pump prices of super petrol and diesel decreased by Sh5.06 and Sh1.90 per litre respectively last month. ERC also cited the increased weakening of the shilling against the dollar as further reason for the fuel price increase.

The regulatory commission is charged with the responsibility of regulating pump prices of oil products which are already in the country, such that the importation and other prudently incurred costs are recovered while ensuring fair prices to the consumer.

“As always, the oil marketing companies are encouraged to compete below the maximum prices,” the ERC statement said.

The regulator reviews domestic energy prices every month, with adjustments made depending on fluctuations in international energy prices.The Commission recently launched a Short Message Service (SMS)-based inquiry system for petroleum prices.