Kenya petrol prices rise due to increased cost of importation
Kenya drivers are to be hit by a rise in petrol prices, largely as a result of increased cost of importation. Petrol prices rise by Sh1.03 for a litre of super petrol and Sh3.70 for a litre of diesel while a litre of kerosene will cost Sh5.05 more.
The Energy Regulatory Commission said the changes were because the average landed cost of imported super petrol increased by 1.42 per cent from US$ 601.97 per ton in September to US$ 610.50 per ton in October.
Diesel’s price increased by 6.31 per cent from $508.56 to $540.66 per ton, while kerosene rose 8.12 per cent from $517.54 to $559.58 per ton.
The Free On Board price of Murban crude oil lifted in October 2017 was $58.10 per barrel, an increase of 4.31 per cent according to the Energy Regulatory Commission.
During the same period the mean monthly US dollar to Kenya shilling exchange rate depreciated by 0.37 per cent from Sh103.12 per US dollar in September to Sh103.51 in October.
Robert Oimeke the director general added, the actual pipeline loss factor has been calculated at 0.08 per cent which is a drop from the previous 0.025 per cent.
“The commission wishes to assure the general public of its continued commitment to the observance of fair competition and protection of interests of both consumers and investors in the energy sector,” Oimeke said.
Consequently, Oimeke said, the savings per litre on account of the reduced pipeline loss are Sh0.15 for super petrol, Sh0.13 for diesel and Sh0.10 for kerosene.