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.
In Thursday’s price review, a litre of diesel in Nairobi will now retail at a maximum Sh95.96, following a Sh6.28 cut. This price was last seen in January last year when it retailed at Sh94.82.
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
The drop in fuel prices is expected to filter through almost all the other sectors of the economy due to the transport factor in pricing of goods and services and lead to reduced inflation.