Petrol price drops by Sh0.86

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Consumers will enjoy marginal reprieve at the pump after the Energy Regulatory Commission (ERC) announced a reduction in the price of petroleum products.

In its monthly review, ERC reduced the weighted average cost of importation that saw the price of super petrol drop by Sh0.86 per litre while the cost of diesel and kerosene was cut by Sh1.16 and Sh0.26 respectively.

In a statement Wednesday, ERC said the weighted average cost of refined imported petroleum products recorded a drop even as the price of free on board Murban crude oil recorded a 3.65 per cent drop in price. In Nairobi, a litre of super petrol will retail at Sh98.73 while diesel will sell at a maximum of Sh86.89. Consumers will require Sh65.05 for kerosene.

For those in Mombasa, which is closest to the port, petrol will cost up to Sh95.47, diesel Sh83.63, and kerosene Sh62.29.

The average landed cost of a tonne of imported super petrol dropped by 0.77 per cent or Sh453 from April to $564.53 (Sh58,286) in May. Diesel saw a 2.52 per cent drop in price.