Fuel prices up in July review
Consumers will be paying close attention to the expected release of new fuel prices. FILE PHOTO |
What you need to know:
- ERC attributes the price rise to the increased prices of crude oil in the global market and the depreciation of the Kenya shilling.
- The new pump prices come after an increase in the cost of electricity, when the second phase of the billing structure that the energy sector regulator set last December was effected.
Fuel prices have gone up yet again in the July review by the energy sector regulator.
(Read: ERC announces new fuel prices)
The price of super petrol is up by Sh1.24 and will now retail at Sh115.86 per litre in Nairobi while kerosene has risen by Sh0.99 to Sh84.12.
Diesel prices have marginally decreased by Sh0.14 per litre, and will now cost Sh104.67, according the review by the Energy Regulatory Commission (ERC)
ERC attributes the price rise to the increased prices of crude oil in the global market and the depreciation of the Kenya shilling.
"The free on board price of Murban crude oil lifted on June 2014 was posted at US$ 111.65 per barrel, an increase of 2.29 per cent from US$109.15 in May 2014,” a statement by the ERC noted.
The commission said the value of the Kenya shilling had fallen by 0.09 per cent from May till June 2014.
OTHER TOWNS
In Mombasa, super petrol will retail at Sh112.49, Sh101.33 for diesel and kerosene at Sh81.33.
In Kisumu town, super petrol will retail at Sh117.69, diesel for Sh106.73 and kerosene for Sh85.90.
Consideration is made of the imported products while setting up the energy pump prices, as well as ensuring fair competition and protection of consumer and investor interest in the sector.
The new pump prices come after an increase in the cost of electricity when the second phase of the billing structure that the energy sector regulator set last December was effected.
The new tariffs saw electricity monthly bills for electricity increase, adding to cost of living in the country.
