FEATURED STORY

Relief for consumers as ERC slashes fuel pump prices

BT ReporterDec 14, 2018652

A petrol attendant fuels a vehicle. Director General Pavel Oimeke said the changes were as a consequence of the average landed cost of imported Super Petrol decreasing by 1.83 per cent from Ksh 55,469.46 (USD538.8) per cubic metre in May 2019 to Ksh 54,384.37 (USD528.26).

The Energy Regulatory Commission (ERC) has reduced the price of Super Petrol, Diesel and Kerosene by Ksh 4.57, Ksh 0.55 and Ksh 6.61 per litre respectively offering a slight relief to consumers as they head to the festive season. In Nairobi, Super Petrol will cost Ksh 113.54 per litre, Diesel Ksh 112.28 and Kerosene Ksh 106.22.

The prices are inclusive of Value Added Tax (VAT) at 8% in line with the provisions of the Finance Act 2018.

In a statement, Director General Robert Pavel Oimeke saidERC made the move after taking into account a decrease in the average cost of imported refined petroleum products. The average landed cost of imported Super Petrol decreased by 8.46% from US$ 758.34 per ton in October 2018 to US$ 694.18 per ton in November 2018.

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Diesel decreased by 2.58% from US$ 741.33 per ton to US$ 722.17 per ton and Kerosene decreasing by 11.12% from US$ 763.47 per ton to US$ 678.57 per ton.

Last month, the commission had increased the price of Super Petrol, Diesel and Kerosene by Ksh 2.38, Ksh 3.11 and Ksh 2.99 per litre in Nairobi respectively.