NAIROBI, Kenya, Feb 14 – Drivers have got Valentine’s gift as the cost of petroleum has further reduced for the second month running thanks to dropping international crude oil and a stronger shilling.
In its monthly review, the Energy Regulatory Commission announced a reduction of Sh4.12 per litre of petrol, Sh6.28 per litre of Diesel and Sh5.20 per litre of Kerosene.
From 14th February midnight, motorists in Nairobi will buy a litre of petrol for Sh100.09 while Mombasa motorists will fuel at Sh97.46 per litre.
In a statement, ERC Director General Robert Pavel Oimeke said the changes in February’s prices are as a consequence of the average landed cost of imported Super Petrol decreasing by 7.23 percent, “from US$590.92 per ton in December 2018 to US$548.20 per ton in January 2019.”
“Over the same period, the mean monthly US Dollar to Kenya Shilling exchange rate appreciated by 0.84 percent from Sh102.16 per US$ in December 2018 to Sh101.30 per US$ in January 2019.”
The pump prices are inclusive of 8 percent Value Added Tax in line with the provision of the Finance Act 2018.
In January, a litre of super petrol dropped by Sh9.33, diesel by Sh10.04 while diesel reduced by Sh3.52