, NAIROBI, Kenya, Jul 14 – Petrol pump prices have registered a massive drop after the energy regulatory Commission reviewed the costs downwards to reflect a similar dip in international crude prices.
A statement signed by Energy Regulatory Commission (ERC) Engineer Linus Gitonga, said the price of super petrol in Nairobi has dropped by Sh9.21 to retail at Sh108.46 while regular petrol is down by Sh11.70 per litre to sell at 105.76. Diesel will be sold at 97.50 after a cut of Sh8.08.
In Mombasa, super will retail at Sh105.22, diesel Sh94.28, kerosene Sh71.63 and regular Sh1021.92 while in Kisumu super will trade at Sh110.25, diesel Sh99.50, kerosene Sh76.21 and regular Sh107.30.
The Free On Board (FOB) price of Murban crude oil in June was posted at $97.35 per barrel, a decrease of 11.98pc from $110.60 per barrel in May.
The average landed cost of imported super petrol decreased by 8.01pc from $1,142.89 per tonne to $1,051.31 per tonne. Diesel decreased by 8.74pc from $1,037.81 per tonne to $947.06. Kerosene decreased by 0.19pc from $1,019.44 per tonne to $1,017.55 between May 2012 and June 2012.
In Eldoret, super will retail at Sh110.19, diesel Sh99.44, kerosene Sh76.22 and regular Sh107.31. In Nakuru super will retail at 106.08, diesel Sh98.33, kerosene Sh75.19 and regular at Sh106.28.
Maximum prices of other towns have been adjusted accordingly.
The prices changes will take effect from July 15, 2012 to August 14, 2012.
Kenyans will have a reason to smile as the reduction of petrol prices will also see the reduction of prices of other commodities.
According to the ERC statement, the prices of crude and refined petroleum products have continued on a downward trend for the past three months.
He warned petroleum dealers against contravening the recommended retail prices.
The statement cautioned petroleum marketing companies and dealers that it is an offence to sell petroleum products above the maximum prices published by the commission.
A person who contravenes this requirement shall be liable to a fine up to Sh1 million or the withdrawal of the operating licence or both.