ERC NEW PRICES FOR PETROLEUM PRODUCTS

According to the recently released petroleum prices by ERC, on the 14th of October, the changes in the maximum allowed petroleum pump price is as follows: Super Petrol reduces by KES 9.36 per litre,Diesel increases by KES 2.44 per litre and Kerosene increases by KES 3.49 per litre.

According to ERC, this was as a consequence of the average landed cost of imported Super Petrol decreasing by 18.86% from US$ 695.68 per ton in August 2015 to US$ 564.47 per ton in September 2015. On the other hand, the average landed cost of imported Diesel during the period increased by 5.78% from US$ 492.92 per ton to US$ 521.43 per ton. Additionally, the average landed cost of imported Kerosene during the same period increased by 6.43% from US$ 474.35 per ton to US$ 504.86 per ton.

The Free On board (FOB) price of Murban crude oil lifted in September 2015 was posted at US$ 46.60 per barrel, a decrease of 4.61% from US$ 48.85 per barrel in August 2015. Over the same period, the US Dollar continued to strengthen against other world currencies. As a result, the mean monthly US Dollar to Kenya Shilling exchange rate depreciated by 1.82% from KES 103.26 per US$ in August 2015 to KES 105.14 per US$ in September 2015.

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