Sweet Valentine for motorists as petrol drops by Sh4.12

CAR FUELLED - Sweet Valentine for motorists as petrol drops by Sh4.12

NAIROBI, Kenya, Feb 14 – Drivers have got Valentine’s gift as the cost of petroleum has further reduced for the second month running thanks to dropping international crude oil and a stronger shilling.

In its monthly review, the Energy Regulatory Commission announced a reduction of Sh4.12 per litre of petrol, Sh6.28 per litre of Diesel and Sh5.20 per litre of Kerosene.

From 14th February midnight, motorists in Nairobi will buy a litre of petrol for Sh100.09 while Mombasa motorists will fuel at Sh97.46 per litre.

In a statement, ERC Director General Robert Pavel Oimeke said the changes in February’s prices are as a consequence of the average landed cost of imported Super Petrol decreasing by 7.23 percent, “from US$590.92 per ton in December 2018 to US$548.20 per ton in January 2019.”

“Over the same period, the mean monthly US Dollar to Kenya Shilling exchange rate appreciated by 0.84 percent from Sh102.16 per US$ in December 2018 to Sh101.30 per US$ in January 2019.”

The pump prices are inclusive of 8 percent Value Added Tax in line with the provision of the Finance Act 2018.

In January, a litre of super petrol dropped by Sh9.33, diesel by Sh10.04 while diesel reduced by Sh3.52

Author: worldwidenewscast

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