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.