Motorists will have to pay more at the fuel station after the Energy Regulatory Commission issued new rates in its monthly review.

Super petrol is up by Ksh 1.62 to now retail at Ksh 107.92, the highest it has hit in three years. Diesel will retail at Ksh 93.68 while Kerosene hits Ksh 73.98.

The regulator cites the rising global crude oil price which is now $69.75 per barrel, an increase of 7.56% from $64.85 per barrel in December 2017.

Over the same period, the mean monthly US Dollar to Kenya Shilling exchange rate appreciated by 0.43% from Ksh 103.12 per US$ in December 2017 to Ksh 102.68 per US$ in January 2018.

READ: China-made smartphones flagged for spying on users

“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, while ensuring reasonable prices to consumers,” said ERC Director General Robert Oimeke.

Oimeke adds that the improved efficiencies in the pipeline has saved consumers Ksh 0.16 per super petrol.

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here