The Energy Regulation Commission (ERC) has offered a Valentine’s Day gift to consumers by announcing a further reduction in fuel prices.
According to the latest changes in the maximum allowed petroleum pump prices in Nairobi, Super Petrol, Diesel and Kerosene have decreased by Ksh 4.12, Ksh 6.28 and Ksh 5.20 per litre respectively
Last month, ERC had reduced the prices of of Super Petrol, Diesel and Kerosene will decrease by Ksh 9.33, Ksh 10.04 and Ksh 3.52 per litre respectively. This was a further reduction from the December changes that saw the prices of Super Petrol, Diesel and Kerosene reduce by Ksh 4.57, Ksh 0.55 and Ksh 6.61 per litre respectively.
Following the latest changes covering the period February 15 to March 14, 2019, a litre of Super Petrol will retail at 100.09 in Nairobi while a litre of Diesel will retail at Ksh 95.96 and Kerosene Ksh 96.50.
ERC Director General Pavel Robert Oimeke said changes in this month’s prices have been as a consequence of the average landed cost of imported Super Petrol decreasing by 7.23% from US$ 590.92 per ton in December 2018 to US$ 548.20 per ton in January 2019; Diesel decreasing by 11.29% from US$ 615.97 per ton to US$ 546.42 per ton and Kerosene decreasing by 3.92% from US$ 620.05 per ton to US$ 595.75 per ton.
The latest price of Super Petrol in Nairobi is the lowest since September 2017 when it retailed at Ksh 98.30 per litre before rising to Ksh 101.67 the next month. It has been retailing at a higher price since then.
Here are the maximum pump prices for other major towns across the country:
editor [at] businesstoday.co.ke