Connect with us

Hi, what are you looking for?

Capital Business
Capital Business
Super petrol inched up by a Sh2.63 and will now retail at Sh121.13 in Nairobi/FILE

Kenya

Pain as petrol hits Sh121 again

Super petrol inched up by a Sh2.63 and will now retail at Sh121.13 in Nairobi/FILE

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.

Advertisement. Scroll to continue reading.
Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...