Home Business News ERC release new fuel prices as petrol goes up

ERC release new fuel prices as petrol goes up

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The Kenya Energy and Regulatory Commission of Kenya have today released a public notice of the new fuel prices.

The price changes which are to take effect from tomorrow to the 15th of August 2018,have seen the price of petrol go up as that of Kerosene and Diesel go down. 

Below is the full statement from ERC. 

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“In accordance with Legal Notice No.196 of 2010, the Energy (Petroleum Pricing) Regulations and the amendment thereof, the Energy Regulatory Commission (the Commission) has calculated the maximum retail pump prices of petroleum products which will be in force from 15th July to 14th August 2018. 

Taking into account the weighted average cost of imported refined petroleum products, the changes in the maximum allowed petroleum pump prices in Nairobi are as follows: Super Petrol increases by KShs. 3.39 while Diesel and Kerosene decrease by KShs. 0.35 and KShs. 1.48 per litre respectively. 

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The changes in this month’s prices have been as a consequence of the average landed cost of imported Super Petrol increasing by 5.54% from US$ 700.01 per ton in May 2018 to US$ 738.77 per ton in June 2018; Diesel decreasing by 1.11% from US$ 689.62 per ton to US$ 681.99 per ton and Kerosene decreasing by 1.91% from US$ 745.54 per ton to US$ 731.27 per ton. 

The purpose of fuel pricing regulations is to cap the pump prices of products, which already are in the country, this is to ensure importation and other incurred costs are recovered thus ensuring reasonable prices to consumers. 

Slavian Mwangecho
Passionate blogger on a day to day activities happening in Kenya, Africa and around the world. A keen follower of the latest news making headlines around the world

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