, NAIROBI, Kenya, Jul 14 – Motorists will have to dig deeper into their pockets after fuel prices went up significantly in the latest review by the Energy Regulatory Commission (ERC) released on Sunday.
The price of Super petrol in Nairobi went up by Sh1.34, capping the retail price at Sh109.53.
In its regular mid month announcement, ERC also hiked the price of Diesel by Sh3.70 which means the recommended retail price should not exceed Sh102.86 shillings in the capital city.
Kerosene is however going to retail at Sh2.30 cents cheaper having been capped at Sh79.49 from Monday.
A statement from the Energy Regulatory Commission said, “The mixed adjustment has been occasioned by the average cost of imported products and those refined locally.”
“The average landed cost of imported Super Petrol increased by 3.32 per cent from USD 891.80 per tonne in May to $1014 per tonne in June.”
The regulatory commission went on to explain that “Over the same period, the average landed cost of imported Kerosene decreased marginally by 0.94% from $951.44 in May 2013 to $940 per tonne in June.”
The regulatory commission is charged with the responsibility of regulating pump prices of oil products which are already in the country, such that the importation and other prudently incurred costs are recovered while ensuring fair prices to the consumer.
“As always, the oil marketing companies are encouraged to compete below the maximum prices,” the ERC statement said.
The regulator reviews domestic energy prices every month, with adjustments made depending on fluctuations in international energy prices.