NAIROBI, Kenya, Feb 15 – Drivers will have to pay more at the fuel station after the Energy Regulatory Commission issued new rates in its monthly review.
Super petrol is up by Sh1.62 to now retail at 107.92, the highest it has hit in three years. Diesel will retail at Sh93.68 while Kerosene hits Sh73.98.
The regulator cites the rising global crude oil price which is now $69.75 per barrel, an increase of 7.56 percent from $64.85 per barrel in December 2017.
Over the same period, the mean monthly US Dollar to Kenya Shilling exchange rate appreciated by 0.43 percent from Sh103.12 per US $ in December 2017 to Sh102.68 per US$ in January 2018.
“The purpose of the fuel pricing regulations is to cap the pump prices of the products which are already in the country, so that the importation and other prudently incurred costs are recovered, while ensuring reasonable prices to consumers,” said ERC Director General, Robert Oimeke.
Oimeke adds that the improved efficiencies in the pipeline has saved consumers Sh0.16 per super petrol.