This archive report was first published on 15 October 2019.
Motorists in Nairobi are set to enjoy a slight reprieve after the retail prices of super petrol dropped by close to Sh5. The fuel, mostly used to power private motor vehicles, will retail at Sh108.05 per litre in the capital for the next one month, marking a six-month low.
According to the Energy and Petroleum Regulatory Authority (EPRA), the price drop is attributed to a decrease in the average landed cost of imported super petrol by 7.66 per cent in September. The landed costs of diesel and kerosene also decreased by 2.32 per cent and 0.47 per cent, respectively.
However, other factors such as the cost of oil at the international market and the performance of the local currency against the US dollar were also considered in determining the local prices.
EPRA noted that the free on board (FOB) price of Murban crude oil lifted in September 2019 was posted at $64.42 (Sh6,400) per barrel, an increase of 3.4 per cent from $62.30 (Sh6,200) per barrel in August 2019.
As of last month, super petrol was retailing at Sh112.81 per litre in Nairobi. The drop this month is the largest that the retail price of petrol has experienced this year, with the better part of the year characterised by increases that saw it hit Sh115.39 a litre in July.
EPRA also reduced the price of diesel by Sh1.08 per litre while pushing up the price of kerosene by 44 cents. Diesel will retail at Sh101.96 per litre while kerosene will go for Sh101.08 per litre in the capital.
“The changes in this month’s prices have been as a consequence of the average landed cost of imported super petrol decreasing 7.66 per cent…. diesel decreasing by 2.32 per cent… and kerosene increasing by 0.47 per cent,” said EPRA in a statement.
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