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Oil prices have dropped yet again in this month’s review, with super petrol, diesel and kerosene shading off Sh4.12, Sh6.28 and Sh5.20 respectively.
In last month’s review, the Energy Regulatory Commission reduced pump prices by Sh9.33, Sh10.04 and Sh3.53 per litre respectively.
This means in the past two months, pump prices have dropped by Sh13.50 for super petrol, Sh16.32 for diesel and Sh8.73 for kerosene.
In the latest review, a litre of petrol will now retail at Sh100.09 in Nairobi down from Sh104.21.
A litre of diesel will cost Sh95.96 down from Sh102.24 while kerosene will retail at Sh96.50 down from Sh101.70.
The changes in this month’s prices are as a consequence of the average landed cost of imported super petrol decreasing by 7.23 per cent from US$ 950.92 per ton in December 2018 to US$ 548.20 per ton in January 2019,” ERC director general Pavel Oimeke said in a statement.
Read: Relief for Kenyans as ERC further slashes petrol, diesel prices
He said the average landed cost of imported for diesel decreased by 11.29 per cent from US$ 614.97 per ton to US$ 546.42 per ton.
The landed cost for Kerosene reduced by 3.92 per cent from US$ 620.05 to US$ 595.75 per ton.
The reduction will see petrol prices in Mombasa retail at Sh97.46, diesel at Sh93.36 and kerosene at Sh93.88.
In Nakuru, super petrol will retail at Sh100.63, diesel at Sh96.69, and kerosene will go for Sh97.21.
Residents in Kisumu will part with Sh101.62, Sh97.68 and Sh98.20 for the products respectively.
In Eldoret, a litre of petrol will sell at Sh101.62, diesel for Sh97.69 and Sh98.21 for kerosene.
The prices will become effective at midnight until midnight March 14.
Generally, oil prices in Kenya have been on the downward trend for the last three months.
In December, the prices went down to Sh113.54 for petrol, Sh112.28 for diesel and Sh105.22 per litre of kerosene.
The ERC attributes the drop to a continued slump in the weighted average cost of imported refined petroleum products.
“The commission wishes to assure members of the public of its continued commitment to the observance of fair competition and protection of the interests of both consumers and investors in the energy sector,” Oimeke said.
Read: Christmas comes early as ERC slashes kerosene, petrol prices
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