Motorists in Nairobi can now afford to smile after the Energy and Petroleum Regulatory Authority (EPRA) revised the price of fuel downwards significantly for the next one month.
Super Petrol, Diesel and Kerosene have decreased by Sh18, Sh4.09 and Sh18.8 per litre respectively, in the latest EPRA monthly review of fuel prices.
Super Petrol will now retail at Sh92.87 down from Sh110.87, Diesel at Sh97.56 down from Sh101.65 while Kerosene will retail at Sh77.28 down from Sh95.49 in March.
“The changes in this month’s prices have been a consequence of the average landed cost of imported super petrol decreasing by 34.61 percent from $472.59 per cubic metre in February to 309.03 per cubic metre in March,” said EPRA Director-General Pavel Oimeke.
The landing cost of diesel decreased by 9.89 percent from $480.21 per cubic metre to $432.70 per cubic metre.
In comparison, kerosene experienced a 37.70 percent decrease from $421.24 per cubic metre to $ 262.44 per cubic metre during the same period.
“It is worth noting that the diesel cargoes used in the computation of this month’s prices were procured in February 2020, when the crude oil price was relatively high,” Pavel added.
The mean monthly US Dollar to Kenya Shilling exchange rate depreciated from Sh101.27 to the dollar in February to Sh104.05 to the dollar in March.
The new fuel prices will be effected by midnight Tuesday and will remain in effect until May 14 midnight.
Source: Nairobi News