, NAIROBI, Kenya, Feb 14 – The price of Super Petrol will reduce by Sh2.14 per litre starting Monday February 15, marking a 4.22 percent decrease in the latest review announced by the Energy Regulatory Commission (ERC).
Diesel will also reduce by Sh8.82 per litre, a decrease of 21.80 percent while Kerosene will go down by Sh6.51 which is equivalent to a 20.23 percent reduction.
With the significant reduction, Super Petrol will retail at Sh86.50 per litre in Nairobi, diesel Sh67.88 per litre while Kerosene will sell at Sh39.62 per litre.
In Mombasa, Super Petrol will be retailing at Sh83.20 while diesel will be sold at Sh64.63 with Kerosene costing Sh36.94 per litre.
Residents of Kisumu will purchase Super petrol at Sh88.47, diesel at Sh70.05 and kerosene at Sh41.54.
Nakuru residents will purchase super petrol at Sh87.26 per litre, diesel at Sh68.84 and kerosene at Sh40.51 while Eldoret residents on the other hand will buy super petrol at Sh88.41, diesel at Sh69.98 and kerosene at Sh41.54.
The commission, which made the announcement on Sunday, attributed the reduction to average landed cost of imported Super Petrol decreasing by 4.22 percent from US$518.63 per ton in December 2015 to US$496.74 per ton in January 2016.
Additionally, the Free On Board price of Murban crude oil in January was posted at US$29.95 per barrel marking a 19.60 percent decrease from December’s US37.25 percent per barrel.
The commission further says that the drop in crude oil prices contributes to the drop in local pump prices.
“The relationship between the two however, is not linear and a host of factors influence the final price of refines products,” said ERC’s Director General Joseph Ng’ang’a.
The factors in question, he said, include the demand and supply of specific refined products in the world.
Nga’ng’a also cautioned against the use of crude oil benchmarks to relate movement in the retail pump prices locally saying it is misleading.
“Super petrol has for instance recorded gradual decline compared to the sharp decline of diesel and Kerosene prices. For instance, at the international market, the price of super petrol dropped by 8 per cent while diesel and kerosene recorded a decrease of 24 percent and 21 percent respectively in January compared to December 2015,”Ng’ang’a said.