Fuel prices down marginally with kerosene going down by Sh7.23March 15, 2020
NAIROBI, Kenya, March 14 – Motorists can in expect some relief at the pump for the next one month following a slight reduction in fuel prices in the latest review by the Energy & Petroleum Regulatory Authority (EPRA).
According to the March 2020, EPRA review, “The price of Super Super petrol has gone down by Sh2.00 and it will retail at Sh110.70; the price of diesel has slipped Sh2.80 bringing the price down to Sh101.65; the price of kerosene shaved off Sh7.23 cents to retail at Sh95.46. These prices will be in force for the next one month.”
“The changes in prices are as a result of the average landed cost of imported fuel which had gone down by 3.44% for Super Petrol, Diesel by 5.27% and 14.96% for kerosene,” says the Authority.
Over the same period , the mean monthly US Dollar to Kenya Shilling exchange rate depreciated by 0.3% form 100.97 per UD dollar in January to 101.27 per dollar in February.
“The purpose of the fuel pricing regulations is to cap the wholesale and retail prices of petroleum products, which are already in the country, so that the importation and other incurred costs are recovered, while ensuring reasonable prices to consumers,” explains EPRA Director General Robert Oimeke.
Oimeke notes that the cargoes used in the computation of this month’s prises were procured in January and February 2020 when the crude oil price was still high.
According, the effect of the recent crash in crude oil prices will be relected in the susequent pump price reviews.