“Taking into account the weighted average costs of imported products and products refined locally, the overall result is that the maximum allowed price of Super Petrol decreases by 3.40 Kenyan shillings per litre, that of Kerosene decreases by 2.22 Kenyan shillings per litre, while that of diesel decreases by 1.22 Kenyan shillings per litre,” said the Energy Regulatory Commission (ERC).
The price of Super Petrol dropped by 2.81 per cent from 1,039.59 US dollars per ton in September 2013 to 1,010.42 US dollars per ton in October 2013.
Diesel however increased from 969.48 US dollars per ton in September to 972.51 US dollars per ton in October and Kerosene rose 0.16 per cent from 1,018.60 US dollars per ton in September to 1,020.23 US dollars per ton in October.
“The purpose of the fuel pricing regulations is to cap the pump prices of products, which are already in the country, such that the importation and other prudently incurred costs are recovered while ensuring fair prices to the consumers,” it said.
“In accordance with Legal Notice No.196, The Energy (Petroleum Pricing) Regulations, 2010, the ERC has calculated the maximum retail pump prices of petroleum products, which will be in force from 15 November to 14 December 2013.”