The Energy Regulatory Commission has announced an increase in petroleum pump prices of Super Petrol,Diesel and Kerosene by Kshs1.26, kshs 0.65 and Kshs 2.96 per litre respectively effective from 15th March.
Super Petrol, Diesel and Kerosene will retail at Sh. 101.35, Sh. 96.61 and Sh. 99. 46 respectively in Nairobi.
In its monthly review, the agency has attributed such increase in fuel prices to the weighted average cost of imported refined petroleum products.
“Taking into account the weighted average cost of imported refined petroleum products, the average cost of imported super petrol increasing by 3.71 %, diesel increasing by 2.79 % and Kerosene increasing by 9.16 %,” said Robert Pavel Oimeke, ERC’s director general.
Over the same period, the mean monthly US Dollar to Kenya Shilling exchange rate appreciated by 1.12 per cent from Kshs. 101.30 in January to Kshs 100.17 per US$ in February.
“The Free On Board (FOB) price of Murban crude oil lifted in February 2019 was posted at $63.35 per barrel, an increase of 8.86 percent from $60.85 per barrel in January 2019,” Mr Oimeke added.
In last month’s review, super petrol, diesel and kerosene dipped by Sh4.12, Sh6.28 and Sh5.20 to retail at Sh100.09, Sh95.96 and Sh96.50 respectively.
The regulatory body has further called upon consumers to report retailers selling petroleum products above the maximum levels to ERC.