15 June 2013

Kenya: Relief As ERC Cuts Petrol Price By Five Shillings

Kenyan motorists will have some relief for the next one month after the Energy Regulatory Commission announced a Sh5.06 cut in the price of super petrol in its latest price review.

ERC announced the reduction of super petrol price alongside other smaller cuts in Diesel and Kerosene cost which will be Sh1.90 and Sh2.06 lower respectively.

Super petrol will this month tcost a maximum of Sh108.18 per litre from a high of Sh113.24 in Nairobi and its environs. Consumers in Mombasa will pay Sh104.93 from Sh 109.99 last month while in Kisumu will pay Sh109.96 from sh115.02.

The maximum pump price kerosene in Nairobi will be Sh81.52, in Mombasa it will cost Sh78.74 and in Kisumu it will be Sh83.31. Kerosene is the most common used form of fuel in Kenyan households in lighting and cooking.

Diesel which powers most commercial activities including public transport will cost Sh99.16 in Nairobi, Sh95.94 in Mombasa and sh101.15 in Kisumu.

This is the third month in a row for ERC to cut the price of fuel. In mid-may it reduced the price of diesel by Sh5.38, super petrol by Sh4.41 and kerosene by Sh4.37.

ERC said the average landed cost of imported petrol decreased by 8.98 per cent from April to May. Over the same period, the imported diesel lowered by 4.77 per cent and kerosene was down by 5.25 per cent.

"The free on board Murban crude oil lifted in may 2013 was posted at $103.65, a decrease of 1.89 per cent from $105.65 per barrel in April 2013," said ERC in a statement.

The regulator also said the exchange rate has been stable in the last month at Sh84.30 per US dollar

The fuel price cuts could see commodity prices cost lower this month. The month on month inflation between April and May after the last cut, by 0.09 to stand at 4.05 per cent.

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