Sigh Of Relief As Fuel Prices Dip In January Review

There is now ease at the pump after the Energy Regulatory Commission (ERC) reviewed the price of fuel downwards.

In the January 2019 review, the prices of super petrol, diesel and kerosene went down by Ksh9.33, Ksh10.04, and Ksh3.52 respectively.

“Taking into account the weighed average cost of imported refined petroleum products, the changes in the maximum allowed petroleum pump prices in Nairobi are as follows: Super Petrol, Diesel and Kerosene decreases by Ksh9.33, Ksh10.04, and Ksh3.52 per litre respectively,” said Robert Pervel Omieke, the ERC director general.

This means that in Nairobi Super Petrol will cost Ksh104.21 per litre while Diesel will cost Ksh102.24 and Kerosene Ksh101.70.

The prices will be inclusive of VAT at 8 percent in line with the Finance Act 2018.

This is the second time in a row fuel prices are dipping, after last month when the prices for Super Petrol, Diesel and Kerosene  dipped by Ksh4.57, Ksh0.55 and Ksh6.61 per litre.

The changes are in consequence of the average landed cost of Super Petrol decreasing by 14.87 percent from US$ 694.18 (apprx. Ksh69,400) per ton in November 2018 to US$ 590.92 (Ksh59,000)per ton in December 2018.

Read: The Ksh30 Billion KPC Loan From Israel That Is Keeping Fuel Prices High

Diesel decreased by 14.71 per cent from US$ 722.17 (Ksh72,200) per ton to US$ 615.97 (Ksh61,600) per ton while Kerosene decreased by 8.62 per cent from US$ 678.57 (Ksh67,800) per ton to US$ 620.05 (Ksh62,000) per ton.

The Free on Board (FOB) for Murban crude oil lifted in December 2018 was posted at USD59.50 (Ksh5,950) per barrel, a decrease of 12.50 per cent from USD68.00 (Ksh6,800) in November 2018.

Here is a list of prices in major towns in Kenya.

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