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Price of petrol to increase Friday

14 August 2014, 16:40

Nairobi - The Energy Regulatory Commission (ERC) has announced the increase in the pump price of petrol as well as the reduction in the price of diesel and kerosene.

The prices take effect on Friday.

According to Dr Frederick Nyang, the Acting Chief Executive Officer of ERC, the purpose of the fuel pricing regulations is to cap the pump prices of the products, which are already in the country, such that the importation and other prudently incurred costs were covered while ensuring fair prices to the consumers.

“As always the oil marketing companies are encouraged to compete below maximum prices,” said Nyang.

Diesel pump prices have been reduced by KES 1,69 per litre while kerosene pump price has reduced by Sh1,07.

Petrol on the other hand has increased by KES 0, 76 per litre.

Nyang stated that the average landed cost of imported diesel decreased by

2,06 percent from US$944, 87 per tonne in June 2014 to US$925,40 in July 2014.

Over the same period, the average landed cost of imported kerosene decreased by 1,92 percent from US$1,010 per tonne in June 2014 to

US$990,75 per tonne in July 2014 while the average landed cost of imported super petrol increased by 1,67 percent from US$1,059 per tonne in June

2014 to US$1,076  per tonne in July 2014.

– CAJ News

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