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Weak shilling pumps fuel prices up

PETROL-STATION-QUEUENAIROBI, Kenya, Sept 14 – Fuel prices have gone up marginally in the latest review announced by the Energy Regulatory Commission (ERC).

The commission’s Acting Director General Fredrick Nyang announced that minimum allowed price for Kerosene increases by Sh1.63 per litre, Super Petrol increases by Sh1.62 per litre while that of Diesel increases by Sh1.11 a litre.

In Nairobi, Super Petrol will now retail at Sh113.88, up from Sh112. 26.
The new price for diesel has been fixed at Sh105.55, adjusting from the current Sh104.44. Kerosene which currently retails at Sh83.93 will now retail at Sh85.55.

Nyang said the increase has been occasioned by a rise in international factors such as Free On Board price of Murban Crude Oil which lifted in August at US Dollar 111.70 per barrel – an increase of 4.54 percent from US Dollar 106.85 per barrel in July 2013.

Over the same period the mean monthly US Dollar to Kenya Shilling exchange rate deteriorated by 0.56 percent from Sh86.96 per US Dollar in July 2013 to Sh87.45 over US Dollar in August 2013.

“Additionally, all petroleum products imported into the country and the ones delivered from the Kenya Petroleum Refineries Limited in the month of August 2013 attracted a 1.50 percent, Railway Development Levy which has subsequently been factored into the pump price computation,” the ERC boss told a news conference.

In Mombasa, the maximum Price of Super Petrol will be Sh110.51, Automotive Diesel at Sh102.21, and Kerosene at Sh82.77.

In Nakuru, the maximum fuel prices will be Super Petrol at Sh114.50, Automotive Diesel at Sh106.40 and Kerosene at Sh86.32.

In Eldoret, the maximum prices will be Super Petrol at Sh115.64, automotive diesel at Sh107.54 and Kerosene at Sh87.35.

In Kisumu, the maximum Price of Super will be Sh115.71, Automotive Diesel at Sh107.61 and kerosene at Sh87.34 and Regular petrol at Sh107.30.

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The new fuel adjustments are in accordance with the Legal Notice No. 196, the Energy (Petroleum Pricing) Regulations, 2010.

The regulatory commission says oil marketers who sell the fuel at prices beyond the standard set rates risk a fine of one million shillings.

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