Motorists’ smiles start reversing as fuel prices increase
The Energy Regulatory Commission has announced new fuel pump prices that will see the cost of Super Petrol go up by Sh1.26, Diesel increase by Sh0.65 and Kerosene up by Sh2.96 per litre.
The new fuel prices that will affect the petroleum products sold in petrol stations across the country take effect on Thursday at midnight and will be in force until April 15, 2019.
According to ERC, the new pricing took into account the weighted average cost of imported refined petroleum products and also the 8% Value Added Tax (VAT) on fuel as stipulated by in Finance Act of 2018.
ERC said the price increase this month was due to the average landed cost of imported Super Petrol which increased by 3.71% from US$ 548.20 per ton in January 2019 to US$ 568.55 per ton in February 2019.
The regulatory body also said cost of Diesel also rose by 2.79% from US$ 546.42 per ton to US$ 561.64 per ton and Kerosene up by 9.16% from US$ 595.75 per ton to US$ 650.29 per ton.
Last month the price of super petrol was reduced by Sh4 per litre and that of diesel slashed by Sh6 a litre, while the cost of Kerosene also dropped by Sh5 per litre.