[caption id="attachment_7503" align="aligncenter" width="300" caption="National Oil has reduced pump prices for Super Petrol and Diesel Nationwide (Image: nockenya.co.ke)"][/caption]

Petroleum Company National Oil Corporation has cut its pump prices down from the figures that industry regulator Energy Regulatory Commission (ERC) announced last week.

National Oil has cut the prices of Super petrol by Sh2 and that of Diesel by Sh1 Sh107.40 for Nairobi. This will be reflected across the country by the same margins relative to the prices offered in Nairobi.

Super Petrol will now retail at  Sh119.10 at National Oil outlets in Nairobi and Diesel will retail at Sh107.40 for Nairobi. This prices have been brought down from the ones ERC set for the month of May/April which were Kshs 121.13 and KES 108.44 in Nairobi for Super petrol and Diesel respectively.

In April, ERC increased the prices of Super petrol in Nairobi from KES 111.69 in March to KES 118.5. It also increased the prices of diesel and Kerosene from KES 105.12 and KES 84.13 to KES 108.8 and KES 86.28 respectively.

ERC attributed the rise in fuel pump prices to the 5.43% increase in Free On Board (FOB) price of Murban crude oil. The price of Murban crude oil in March 2012 was posted at US $ 126.99 per barrel from US $ 120.45 per barrel in February 2012.