NAIROBI, Kenya
Motorists will pay Sh1.07 less for every litre of Super petrol this holiday season, according to new prices released today by the Energy Regulatory Commission (ERC). The price of diesel for the period between December 15 and January 14, 2013 is almost unchanged reducing by Sh0.06 per litre while that of Kerosene has increased by Sh1.57 per litre.
ERC said that the average price of imported Super petrol decreased by 3.8 per cent in November, while the imported cost of diesel decreased by 1 per cent. The cost of imported Kerosene dropped by 2.29 per cent. The Kenya shilling weakened by 1.7 per cent over the same period.
The decrease in the price of imported Kerosene, however did not reflect in the new price owing to what ERC says are inefficiencies of the local refinery where it was sourced.
“The price of Kerosene increased despite a drop in imported Kerosene because most of it was sourced from the local refinery. The local refinery has inefficiencies which led to higher Kerosene prices,” said ERC director-general Kaburu Mwirichia. Global crude oil prices remained relatively unchanged dropping by 0.09 per cent in November compared to October.
The slight drop in fuel prices will keep the rate of inflation low supporting the case for a relaxed monetary policy position which is good for economic growth. (BUSINESS DAILY)
