The Energy Regulatory Commission (ERC) attributes the recent 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 average landed cost of imported Super Petrol increased by 14.67% from US $ 1046.86 per tonne in February 2012 to US $ 1200.41 per tonne in March 2012. The average landed cost of imported Diesel, over the same period, also increased by 4.87% from US$ 1034.72 per tonne to US 1058.27 per tonne. The average landed cost of imported Kerosene increase by 4.79% from US$ 1058.27 per tonne in February 2012 to US$ 1108.98 per tonne in March 2012.
- Data sourced from ERC
To a more positive note, the Kenya shilling stabilized against the dollar, standing at KES 82.82 in March, a factor that significantly influenced the new pump price.