NAIROBI, Kenya, May 14 – Motorists across Kenya will have to dig a little deeper to pay for fuel at the pump at least for the next one month, after the Energy Regulatory Commission (ERC) announced higher fuel prices in its latest review.
Super petrol inched up by a Sh2.63 and will now retail at Sh121.13 in Nairobi.
Diesel, however dips slightly by Sh0.36 to sell at Sh108.79, while kerosene has risen by Sh0.72 to retail at Sh87 in the capital.
The new prices take effect from midnight on Tuesday, and follow a slight increase in the cost of imported Super Petrol of 2.93 percent to $1235.56 per tonne in April.
In a statement, ERC Director General Kaburu Mwirichia said within the last few weeks there had been a downward trend in the price of crude and refined petroleum products in the international market.
He added that stabilising exchange rate should have a positive impact on the next price review.
High fuel prices are one of the twin factors blamed for soaring inflation rates experienced in the country last year.
April’s inflation rate dropped to 13.06 compared to March’s rate 15.61 which had consumers hopeful for a decline in fuel prices this month.
Super Petrol shot up by a massive Sh7 last month which the regulator pegged on rising global oil prices.
Brent crude oil spot prices fell about $6 per barrel in April from $126 per barrel on April 2 to $120 per barrel on April 30, but dropped another $7 per barrel during the first week of May.