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Petrol prices go down by KES 9

14 October 2015, 21:39 Victor Tinto

Nairobi - Petrol prices have gone down by KES 9.34 in the latest price review by the Energy Regulatory Commision ERC.

The ERC announced Wednesday that the prices had gone down saying that the cumulative cost of production and other factors had also reduced.

" This was a consequence of the average landed cost of imported super petrol decreasing by 18.86 per cent from $695.68 per tonne in August to $564.47 per tonne in September. On the other hand, the average landed cost of imported diesel during the period increased by 5.78 per cent to $521.43 per tonne," ERC Director-General Joseph Ng’ang’a said in a statement.

"Additionally, the average landed cost of imported kerosene during the same period increased by 6.43 per cent to $504.86 per tonne," he added.

It was however not all good news as the prices of diesel and kerosene increased by KES 2.44 and 3.49 respectively. The ERC has also attributed the price changes to a decrease in international crude prices and the depreciation of the shilling against the dollar, which is said to have eroded the gains from lower international oil prices.

" The price of Murban crude oil was $46.6 per barrel in September, a decrease of 4.61 per cent. Over the same period, the US dollar continued to strengthen against other world currencies. As a result, the mean monthly exchange rate depreciated by 1.82 per cent to KES 105.14 in September," The ERC boss added.

The prices will be reviewed next in mid November.

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