NAIROBI, Kenya, Oct 14 – Fuel prices have dropped marginally in the latest review by the Energy Regulatory Commission (ERC).
The commission announced that the price of super petrol has decreased by Sh1.61 per litre to retail at Sh112.47 from Sh113.88 in Nairobi.
Diesel in the capital city will be sold at Sh104.47 from Sh105.55 a litre, marking a Sh1.08 drop.
The ERC says kerosene will retail at Sh85.01 from Sh85.55 in Nairobi after registering a Sh0.55 drop.
The commission says the reduction in prices was as a result of decrease in the average landed cost of imported super petrol by 2.39 percent, a decrease in the average landed cost of imported kerosene by 2 percent and a decrease in the average landed cost of imported diesel by 0.89 percent.
The reduction was also as a result of improvement in the exchange rate by 0.40 percent.
“The Free On Board price (FOB) of Murban crude oil lifted in September 2013 was posted at US$114.50 per barrel which was an increase of 2.51 percent from US$111.70 per barrel in August 2013 with the volume of product from the local refinery accounted to 9.64 percent of the total volume factored,” ERC says.
In Mombasa, the maximum price of super petrol will be Sh108.91, automotive diesel at Sh101.13, and kerosene at Sh82.21.
In Nakuru, the maximum fuel prices will be super petrol at Sh112.90, diesel at Sh105.32 and kerosene at Sh85.77.
In Eldoret, the maximum prices will be super petrol at Sh114.04, automotive diesel at Sh106.46 and kerosene at Sh86.79.
In Kisumu, the maximum price of super will be Sh114.11, automotive diesel at Sh106.53 and kerosene at Sh86.79
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 Sh1million.