High Import Cost pushes September Fuel Prices higher

Kenyan motorists have been hit in  the monthly latest review of fuel prices  by the  Energy Regulation Authority.

In the latest review, petrol price has been increased by KSh2.20, diesel up by KSh1.00 and Kerosene up by 94 cents effective September 15th – October 14th.

The review took into account the average cost of imported refined petroleum products. This factors average global oil prices in 30-45 day lagged period with 7.89 percent m/m increase to USD 51.93 per barrel.  

“The changes in this month’s prices have been as a consequence of the average landed cost of imported Super petrol increasing by 7.48 percent from 521.40 US dollars per ton in july 2017 to 560.40 US dollars per ton in August 2017, diesel increased by 1.48 percent and kerosene by 0.72 percent,” said the ERC in a statement.

Over the period, the mean monthly US Dollar to Kenya Shilling exchange rate appreciate by 0.53 percent from Ksh 103.92 per US dollar in July to Ksh 103.37 per Us Dollar in August 2017.