Energy Regulatory Commission (ERC) stand. Photo: ERCKenya Facebook gallery
Kenyans now have to further tighten their belts despite the high cost of living as the Energy Regulatory Commission (ERC) published the new schedule of prices for super petrol, diesel, and kerosene.
The new price schedule is for the period starting 15 May 2017 until 14 June 2017.
The report from the commission says that the price surge follows the changes in the weighted average cost of imported petroleum products arriving at the port of Mombasa between March and April.
The Energy Regulatory Commission, through the recently published pump price review, emphasised that the only cost component that changed this time was the landed cost.
The average landed cost of super petrol increased by 0.94% from US$ 563.62 per tonne in March 2017 to US$ 568.92 per tonne in April 2017. Diesel decreased by 2.2% from US$ 504.83 per tonne to US$ 493.72 per tonne while the average landed cost of kerosene increased 1.93% from US$ 497.44 per tonne to US$ 507.02 per tonne.
Kenya largely depends on imported petroleum and fuel products and ERC is attributing the impact on the landed cost to fluctuations in the exchange rate between the Kenyan shilling and the US dollar.
The review indicates that the mean monthly US dollar to Kenya shilling exchange rate depreciated by 0.37% from KShs102.95 per US dollar in March 2017 to KShs103.32 in April 2017.
The retail price of petroleum products in Kenya consists of the landed cost of the product, storage and distribution costs, oil marketing company margins, taxes, and levies.
Click here to see the full list of pump prices for all Kenyan towns as reported by the commission.