Kenyans are set to enjoy lower pump prices in the coming days. The Energy and Petroleum Regulatory Authority has released revised retail prices of petroleum products effective from 15th April to 14th May 2020. The new prices reflect a decrease in the weighted average cost of imported refined petroleum products.
In this case, the average landed cost of imported Super Petrol decreased by 34.61% from $472.59 per cubic meter in February to $309.03 in March; Diesel decreased by 9.89% from $480.21 per cubic meter in February to $432.70 in March; while Kerosene decreased 37.70% per cubic meter to $262.44 in March 2020.
Consequently, the pump price in Nairobi for Super Petrol is Ksh92.87 down by Ksh18 per litre, Diesel is Ksh97.56 down by Ksh4.09, and kerosene will sell at Ksh77.28 down by Ksh18.18.
However, EPRA notes that the diesel cargoes used in the computation of this month prices were procured in February 2020 when crude prices were relatively high thus does not reflect the recent crash in oil prices.