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Economy

A petrol station attendant fuels a car. FILE PHOTO | NMG 

Prices of petroleum products have dropped significantly in the final month of 2018, promising relief to households during this festive season.

Motorists in Nairobi will now pay Sh113.54 for a litre of super petrol and Sh112.28 for diesel, latest price reviews published by the Energy Regulatory Commission (ERC) shows.

The cost of kerosene, mainly used by low-income households for cooking and lighting, has also gone down by Sh6.61 to Sh105.22 per litre.

“The changes in this month’s prices have been as a consequence of the average landed cost of imported super petrol decreasing by  8.46 percent from $758.34 per in October 2018 to $ 694.18 per ton in November 2018,” ERC director-general Pavel Oimeke said in a statement on Friday.

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“The free on board (FOB) price of Murban crude oil in November was posted at US$68 per barrel, a decrease of 17 percent from US$82.30 per barrel in October,” ERC added.

The regulator also cited a 1.27 percent depreciation in the average monthly shilling exchange rate to the dollar — at Sh102.44 in November from Sh101.16 a month earlier which has an effect on the cost of fuel since importers pay more in shillings to buy the dollars.

Takes effect from tomorrow

Under the new price review, which takes effect tomorrow until January 14, a litre of petrol will now retail at Sh110.91 in Mombasa, diesel (Sh109.66) and kerosene (Sh102.60).

In Nakuru, a litre of super petrol will now be sold at Sh114.02, diesel and kerosene at Sh112.96 and Sh105.92 respectively.

In Kisumu, petrol will retail at Sh115.01 diesel Sh113.95 and Kerosene at Sh106.91

In Eldoret, petrol will be Sh115.02, diesel Sh113.96 and kerosene will retail at 106.91.



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