ERC Reviews Fuel Prices

The Energy Regulatory Commission (ERC) has today slashed fuel prices in, February  review to take effect from February 15 to March 14, 2019.

The commission made the decision following a continued free fall of fuel prices at international markets during their mid-month review.

The price of super Petrol drops by Ksh 4.12 and will go for a retail price of Ksh100.09 in Nairobi, motorists using diesel will reap big by paying Ksh95.96 less y Ksh6.28 a litre in Nairobi, low income households who have been buying Kerosene at Ksh101.78 will now buy it at Ks96.50 saving Ksh5.28 per litre respectively according to a statement to media houses.

“The pump for the prices are inclusive of 8% Value Added Tax (V.A.T) in line with provisions of the Finance Acts 2018,” read part of the statement.

“The Free On board (FOB) price of Murban crude oil lifted in January 2019 was posted at US$ 60.95 per barrel, an increase of 2.44% from US$ 59.50 per barrel in December 2018,” noted ERC.

According to the statement, the same period saw the mean monthly US dollar to Kenya Shillings exchange rate appreciated by 0.84% from Ksh102.16 per US$ in December 2018 to Ksh101.30 per US$ in January 2019.

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