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Cost of fuel decreases in latest ERC review

Super petrol has decreased by Sh4.57 to Sh113.54, diesel by Sh0.55 to Sh112.28 and kerosene by Sh6.61 to Sh105.22/FILE

NAIROBI, Kenya, Dec 14 – Starting Friday midnight, consumers in the country will pay less for super petrol, diesel and kerosene following a review on the prices by the Energy Regulatory Commission.

Super petrol has decreased by Sh4.57 to Sh113.54, diesel by Sh0.55 to Sh112.28 and kerosene by Sh6.61 to Sh105.22.

According to the firm, the drop is a consequence of the average landed cost of imported super petrol decreasing by 8.46 per cent from US$758.34 per ton in October 2018 to US$694.18 per cent in November 2018.

Diesel also decreased by 2.58 per cent by 2.58 percent from US$741.33 per ton to US$722.17 per ton with kerosene decreasing by 11.12 per cent from US$763.47 per ton to US$678.57 per ton.

Over the same period, the mean monthly US dollar to Kenya shilling exchange rate depreciated by 1.27 per cent from Sh101.16 per US dollar in October, to Sh102.44 per US dollar in November.

The new prices are inclusive of VAT of 8 per cent, which is in line with the provisions of the Finance Act 2018.

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