Sweet Valentines to motorists as Energy Regulatory Commission drops fuel prices

Drivers also got their fair share of sweet Valentine’s day as the cost of petroleum has further reduced for the second month running thanks to dropping international crude oil and a stronger shilling. In its monthly review, the Energy Regulatory Commission announced a reduction of Sh4.12 per litre of petrol, Sh6.28 per litre of Diesel and Sh5.20 per litre of Kerosene.

Having taken into account the weighted average cost of imported refined petroleum products, ERC dropped the maximum allowed petroleum pump prices across the country as compared to the previous period.

In the changes announced via a press release, Super Petrol, Diesel and Kerosene have decreased by Ksh 4.12, Ksh 6.28 and Ksh 5.20 per litre respectively.

“In accordance with Legal Notice No.196 of 2010, the Energy (Petroleum Pricing) Regulations and the amendment thereof, the Energy Regulatory Commission (the Commission) has calculated the maximum retail pump prices of petroleum products, which will be in force from 15th February to 14th March 2019,” the commissions’ statement read.

From 14th February midnight, motorists in Nairobi will buy a litre of petrol for Sh100.09 while Mombasa motorists will fuel at Sh97.46 per litre.

In a statement, ERC Director General Robert Pavel Oimeke said the changes in February’s prices are as a consequence of the average landed cost of imported Super Petrol decreasing by 7.23 percent, “from US$590.92 per ton in December 2018 to US$548.20 per ton in January 2019.”

“Over the same period, the mean monthly US Dollar to Kenya Shilling exchange rate appreciated by 0.84 percent from Sh102.16 per US$ in December 2018 to Sh101.30 per US$ in January 2019.”

The pump prices are inclusive of 8 percent Value Added Tax in line with the provision of the Finance Act 2018.

In January, a litre of super petrol dropped by Sh9.33, diesel by Sh10.04 while diesel reduced by Sh3.52 

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