More pain at the pump as Super petrol prices increase by KSh2
The price of super petrol has increased by KSh2.
In its latest review, Energy and Petroleum Regulatory Authority (EPRA) says the commodity will now retail at KSh179.30 in Nairobi.
However, prices of kerosene and diesel remain unchanged at KSh145.94 and KSh162, respectively.
The regulator says the price of diesel has been cross-subsidised with that of petrol while a subsidy of KSh23.49 per litre has been maintained for kerosene for the benefit of consumers.
Most poor rural an urban households use kerosene for lighting and cooking.
On Monday this week, Energy Cabinet Secretary Davies Chirchir announced the signing of a deal with Saudi Aramco, the world’s biggest oil producer, for the supply of diesel and petrol for the next six months.
Recently, CS Chirchir said that Kenya is seeking a year-long payment period for petroleum products imports [rather than settling on delivery], to relieve pressure on its foreign exchange rate.
"When products arrive in Mombasa (port) today, we pay about $500 million within three days. That causes significant pressure," he said.
The Kenyan shilling has been declining fast against the dollar.
- Advertisement -