Kenyans to pay more for fuel in new ERC prices
Business
By
Standard Reporter
| Jul 14, 2015
NAIROBI, KENYA: The Energy Regulatory Commission has announced new petroleum retail pump prices that will apply throughout Kenya from 15th July to 14th August 2015.
The maximum allowed price of Super Petrol increases by Shs 1.31 per litre, Diesel increases by Shs 1.25 per litre, while Kerosene increases by Shs 0.96 per litre.
“This was a result of the average landed cost of imported Super Petrol increasing by 2.22 per cent from US$ 703.37 per ton in May 2015 to US$ 718.97 per ton in June 2015,” said Engineer Joe Ng’ang’a, ERC’s Director General.
“Similarly, the average landed cost of imported Diesel between May and June increased by 1.41 per cent from US$ 602.46 per ton to US$ 610.94 per ton. The average landed cost of imported Kerosene during the same period decreased by 2.20 per centfrom US$ 633.13 per ton to US$ 619.21 per ton,” said Eng. Ng’ang’a.
Meanwhile, the mean monthly US Dollar to Kenya Shilling exchange rate depreciated from Shs 96.86 per US$ in May 2015 to KES 98.13 per US$ in June 2015. This represents a 1.31 per cent depreciation.
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The purpose of the fuel pricing regulations is to cap the pump prices of the products which are already in the country, so that the importation and other prudently incurred costs are recovered, while ensuring reasonable prices to consumers.