Business: Petrol, Diesel and Kerosene prices go up in ERC June fuel review

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Motorists in Nairobi will for the next one month pay Ksh 108.81 per litter for super petrol up from Ksh 107.17 in the month of May.

The price of Diesel which is normally used by PSV vehicles will retail at sh 103.60 per litter up from Ksh 96.64an increase of sh 6.96.

Kerosene which is normally used by low-income households will now retail at Sh 84.10 up from Ksh 78.22, an increase of sh 5.88, according to the latest review by the energy regulatory commission of Kenya.

Energy Regulatory Commision (ERC),  the body charged with the responsibility of regulating the price of fuel in the country attributed this increase to average landed costs which increased by 2.82% for super petrol from US$ 680.83 per ton in April to US$ 700.01 per ton in May and diesel which went up by 8.99% increasing from US$ 632.72 per ton in April to US$ 689.62per ton in May while the landing costs for kerosene went up by 9.05% from US$ 683.67 per ton in April to US$ 745.54 in May.

This comes at a time when the government is planning to introduce 16 %Vat on petroleum products in the country beginning September this year. This means that the price of fuel will go up by sh 17 per litter in line with a deal Kenya made with the International Monetary (IMF) Fund two years ago.

The price of Murban crude oil increased from US$ per barrel from US$ 71.90 per barrel in April 2018 to US$ 78.25 in May.

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Peter Omondi
I have a nose for business news and trends. Got a tip? Hit me up. Email info@techtrendske.co.ke or p.omondi@techtrendske.co.ke is my email.
http://techtrendske.co.ke

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