KENYA: Petrol prices up as diesel, kerosene tumble in wake of global oil glut
Prices of Super Petrol increased
by Sh0.17 while diesel and kerosene decreased by Sh0.34 and Sh0.39 in
prices released by ERC on Friday.
The regulator said that the fuels will retail in Nairobi at Sh91.56 for Petrol while diesel will be sold at Sh82.12 effective October 15.
Energy Regulatory Commission
said the 0.81 per cent increase was a result of rise in average landed
cost of imported super petrol.
Director General Joseph Ng'ang'a said as a result, diesel and kerosene had however decreased by 1.3 per cent and 4.14 per cent respectively.
In Mombasa, petrol will retail at Sh88.16 while the same will trade in Nakuru at Sh92.23.
The commission said the Free On Board price of Murban crude oil lifted in September 2016 was posted at a decrease of 0.55 per cent.
"Due to the time lag of 30-45 days between order placement and delivery, a majority of the cargoes that have been used in this month's pump price computation were those dispatched in August," said Nga'ang'a.
He said: "The effects of the decrease in crude oil prices mentioned will be realised locally in subsequent pricing cycles,"
The regulator further warned petroleum marketing companies and dealers against selling the products above the prices it has published.
"Any party that contravenes this requirement is liable to a fine of up to one million shilling or the withdrawal of the operating licence," said Ng'ang'a.
He said the commission was working with government agencies and members of public to ensure compliance with the set prices.
The regulator said that the fuels will retail in Nairobi at Sh91.56 for Petrol while diesel will be sold at Sh82.12 effective October 15.
Director General Joseph Ng'ang'a said as a result, diesel and kerosene had however decreased by 1.3 per cent and 4.14 per cent respectively.
In Mombasa, petrol will retail at Sh88.16 while the same will trade in Nakuru at Sh92.23.
The commission said the Free On Board price of Murban crude oil lifted in September 2016 was posted at a decrease of 0.55 per cent.
"Due to the time lag of 30-45 days between order placement and delivery, a majority of the cargoes that have been used in this month's pump price computation were those dispatched in August," said Nga'ang'a.
He said: "The effects of the decrease in crude oil prices mentioned will be realised locally in subsequent pricing cycles,"
The regulator further warned petroleum marketing companies and dealers against selling the products above the prices it has published.
"Any party that contravenes this requirement is liable to a fine of up to one million shilling or the withdrawal of the operating licence," said Ng'ang'a.
He said the commission was working with government agencies and members of public to ensure compliance with the set prices.
No comments: