Motorists will dig deeper into their pockets as a result of an increase in fuel prices announced by the Energy Regulatory Commission (ERC).
In its latest review, ERC on Thursday announced that super petrol, diesel and kerosene prices had gone up by Ksh1.26, 65 cents and Ksh2.96 respectively.
“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 increase by Ksh1.26, Ksh0.65 and Ksh2.96 per litre respectively."
“In accordance with Legal Notice No.196 of 2010, the Energy (Petroleum Pricing) Regulations and the amendment thereof, ERC has calculated the maximum retail pump prices of petroleum products, which will be in force from 15th March to 14th April 2019,” stated commission's Director General Pavel Oimeke.
This means super petrol, diesel and kerosene will retail at Ksh101.35, Ksh96.61 and Ksh99.46 respectively in Nairobi.
The new pump prices will remain effective until April 14.
ERC attributed the upward review of the price of fuel to the increase in average landed cost of imported products.
It states the average cost of super petrol spiked by 3.71 per cent, diesel by 2.79 per cent and kerosene by 9.16 per cent.
The new pricing took into account the weighted average cost of imported refined petroleum products and also the 8% Value Added Tax (VAT) on fuel as stipulated by in Finance Act of 2018.
Last month, the cost of super petrol was reduced by Ksh4 per litre and that of diesel slashed by Ksh6 a litre, while the cost of Kerosene also dropped by Ksh5 per litre.
