The Energy Regulatory Commission (ERC) is today, 14 August, 2012 expected to announce reviewed fuel pump prices for the period starting 15 August, 2012 to 14 September, 2012.

Based on the recent upward trend in international oil prices we predict that ERC will review the fuel prices upwards.

As posted by Abu Dhabi National Oil Company, the Free On Board (FOB) price of Murban crude oil increased to USD 101.75 per barrel in July 2012, reflecting a rise of 4.7 per cent from 97.35 per cent in June 2012.

Following the transformation of Kenya Petroleum Refinery Limited (KPRL) to merchant status that gave it the freedom to choose the most economic crude type to import on a monthly basis; KPRL'S first crude oil import consignment in July 2012 was the Murban crude type.

The price of other crude oil types also increased in July 2012 as compared to June 2012. the price of L Zakum, Umm Shaif and U Zakum crude oil types increased to USD 101.30, USD 101.05 and USD 99.85 per barrel respectively in July, up from USD 96.90, USD 96.55 and USD 95.65 per barrel respectively in June 2012.

As it is the norm, ERC fuel price review will take into consideration current trends in international oil prices, capping the pump prices of the products which are already in the country, such that the importation and other prudently incurred costs are recovered, plus protect the consumer.

Currently, super petrol retails for KES 108.46 per liter, the lowest seen price since March 2011. The price of Diesel and Kerosene stand at KES 97.50 and KES 74.40 respectively. Enjoy these prices while they last.