The cost of petrol, kerosene and diesel has gone up yet again. The latest prices mark a four year high for the prices, signaling pain at the pump for consumers.
The Energy Regulatory Commission (ERC) increased the price of super petrol by Sh. 1.64 yesterday while diesel and kerosene were the worst hit, climbing by Sh. 4.96 and Sh. 5.88 respectively.
For fuel stations within Nairobi, petrol will retail at Sh. 108.81 while diesel and kerosene will be Sh. 103.60 and Sh. 84.10 respectively.
This level of prices was last seen in October 2014 when a litre of petrol retailed at Sh. 111.7 in Nairobi. It had previously hit a historic high of Sh. 124 a litre in November 2011.
ERC said in a statement that the changes were informed by the rebounding global oil prices which also put pressure on the average cost of imported oil. The price of oil has been on a consistent rise since crossing into at least $50 (Sh. 5, 000) per barrel in August last year.
“The free on board price of Murban crude oil lifted in May 2018 was posted at $78.25 (Sh. 7,895) per barrel, an increase of 8.83 per cent from $71.90 (Sh. 7,254) per barrel in April 2018,” said ERC Director-General Pavel Oimeke.