Fuel pump prices go down slightly in latest review

Business Daily Kenya:  Motorists and households will enjoy a slight decrease in petroleum pump prices after the Energy Regulatory Commissio...

Business Daily Kenya: 

A motorist fuels at a petrol station. Photo/FILE

Motorists and households will enjoy a slight decrease in petroleum pump prices after the Energy Regulatory Commission (ERC) pronounced a dip in prices of super petrol, diesel and kerosene by Sh0.86, Sh1.16 and Sh0.23 per litre for the next four weeks.

In its latest fuel prices review, which will be used in the next one month, motorists in Nairobi will pay Sh98.73 per litre of super petrol and diesel at Sh86.89. Kerosene will now cost Sh65.05.

Last month, ERC had announced an increase in prices of super petrol and kerosene, while price of diesel decreased marginally. The price of super petrol had increased by Sh1.59 to Sh99.59 in Nairobi, while that of diesel decreased by Sh0.57 to Sh88.05.

Kerosene price increased by Sh0.90 to Sh65.28 per litre. In yesterday’s review, prices for the rest of Kenya will drop by more or less the same margins compared to last month’s estimates.

In Mombasa, consumers will pay Sh95.47 per litre of petrol, Sh83.63 per litre of diesel and Sh62.29 for Kerosene for the next one month. The announcement comes amid reports by the Kenya National Bureau of Statistics (KNBS) that the Consumer Price Index (CPI) increased by 0.75 per cent from 186.24 in April to 187.64 in May, while overall year-on-year inflation hit 11.70 per cent in May, this dip in the cost of fuel will help cushion consumers.

The lower price announcements are attributed to a decrease in the average landed cost of imported super petrol which decreased by 0.77 per cent to $564.53 (Sh58,000) per tonne upon delivery in Mombasa.

The costs of diesel also reportedly decreased by 2.52 per cent to $481.30 (Sh49,000) while the cost of Kerosene decreased by 0.15 per cent. Motorists pay more at pumps in the hinterlands on account of transportation costs, however, the monthly costs are also dependent on the rate of depreciation in the mean monthly dollar to Kenya shilling exchange rate.

“Over the same period, the mean monthly US dollar – Kenya shilling exchange rate appreciated by 0.01 per cent from Sh103.33 per dollar in April, to Sh103.31 per dollar in May,” ERC said in a statement.

In Kisii petrol will retail at Sh102.51 per litre while diesel will be sold at Sh91.18 per litre. Kerosene will cost Sh68.40 per litre. Motorists in Nakuru will pay Sh99.47 for Super Petrol, Sh87.83 for diesel and Sh65.92 for kerosene per litre.

The post Fuel pump prices go down slightly in latest review appeared first on Mediamax Network Limited.

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