ERC increases Fuel Prices, Current Prices Highest in 3 Years

The Energy Regulatory Commission has increased the prices of Petrol, Diesel, and Kerosene with the current prices being the highest in 40 months.

According to the new data released by the commission and one that will take effect from 15^th February midnight, the increase in prices has been attributed to the increase in global prices.

Petrol is now up by 1.62 shillings to 107.92 shillings per liter in Nairobi. Diesel is now up by 2.14 shillings to 96.96 shillings per liter in Nairobi. Diesel is widely used by commercial vehicles and in powering machines in industries.

Kerosene has been hiked to 76.75 shillings per liter, a 1.97 shilling increase according to data released by the Energy and Regulatory Commission (ERC).

“The changes in this month’s prices have been as a consequence of average landed cost of Super Petrol increasing by 4.10 percent from USD 661.63 per ton in December 2017 to USD 688.76 per ton in January 2018,” read a statement from ERC.

The commission also attributes the increase in prices to the increase in average landing cost of Diesel by 4.33 percent with that of the kerosene going up by 4.74 percent.

“Taking into account the weighted average cost of imported refined petroleum products, the changes in the maximum allowed petroleum pump prices in Nairobi are as follows: Super Petrol, Diesel, and Kerosene increased by 1.62 shillings, 2.14 shillings, and 1.97 shillings respectively,” said the commission.

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