The energy industry regulator Energy Regulatory Commission (ERC) has announced new fuel prices for the month. The regulator gives new monthly rates that govern the pump prices for the next month. The new prices are not any good news for motorists as Super petrol has gown up.

New pump prices for Super Petrol have gone up by KES 2.63 to retail at KES 121.13 in Nairobi. The prices for diesel though have been slashed  by 36cts to KES 108.44 and  Kerosene has gone up by 72cts to retail at KES 87.00

Last month, 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.

The regulator calculates new pump prices in consultation with industry players based on international crude prices, the landing cost of Petrol, diesel and kerosene and foreign exchange rates. The local unit has remained fairly stable in the month against the dollar and this combined with the prices of Murban crude could have influenced the small differences from last months adjustments.