CONTACTS: +254 726879488 (Mobile)
+254770 455 116 (Office)
Fuel prices in East African nation, Kenya have now fallen to a three-month low after the Energy Regulatory Commission (ERC) cut prices by up to Sh4 per litre in the latest price review, thanks to the recent slide in the international oil prices that have been falling since October last year.
International rates of fuels ordinarily follows the crude price trend – which have tumbled to under USD72 a barrel from slightly over USD86 in October 2018. Such reverse adjustments on global crude oil prices generally drive down local fuel rates that has now been seen in the last three months.
Motorists in Nairobi will for the next one month pay Sh100.09 for a litre of petrol, down from Sh104.21 last month and Sh113.54 they had been paying since December 14 – marking a three-month low in a row. The cost of a litre of diesel has also fallen by Sh6.28 to retail at Sh95.96 in the city.
Kerosene will retail at Sh96.50 in Nairobi, a drop from Sh101.70 last month.
Average landed cost of imported Super Petrol dropped by 7.23 per cent from USS 590.92 per ton in December last year to US$ 543.20 per ton in January 2019, while diesel prices dropping by 11.29 per cent from US$ 615.97 per ton to US$ 546.42 per ton and Kerosene lessening by 3.92 per cent from US$ 620.05 per ton to US$ 595.75 per ton, which can explain the fall in pump prices.
Motorists in Mombasa will retail at Sh97.46 from Sh101.60 for a litre of petrol in the previous review, Sh9396 for diesel and Sh 93.88 for a litre of kerosene.
In Nakuru a litre of petrol will now be sold at Sh100.63, 96.69 for diesel and Sh97.21 for a litre of kerosene while in Kisumu a litre of petrol will be sold at Sh101.62, Sh 97.68 for a litre of diesel and Sh 98.20 for a litre of kerosene.
Other factors such a stable shilling against major world currencies could also explain the gradual fall in fuel prices with the trend, should it sustain, is expected to come a reprieve to consumers who will have a few shillings to spend on other goods and services in the coming weeks.