(Ecofin Agency) - In Kenya, the Energy Regulatory Commission (ERC) has announced the reduction in the prices of super petrol, diesel and kerosene.

The price of super petrol throughout the country was decreased by Sh2.14 per litre, diesel by Sh8.82 per litre while kerosene reduced by Sh6.51 per litre in the just released pump prices for February 15 to March 14, 2016.

The Commission said the maximum retail pump prices of petroleum products was calculated and the decline in the prices of crude oil globally, has affected local pump prices.

“Taking account of the weighted average cost of imported refined petroleum products, the changes in the maximum allowed petroleum pump prices are as follows: Super Petrol reduces by Sh2.14 per litre, Diesel reduces by Sh8.82 per litre while Kerosene reduces by Sh6.51 per litre. It is worth noting that crude oil and refined products are traded in completely different markets and hence their pricing are different. It is also important to note that the pump price of super petrol has higher taxes and levies compared to diesel and kerosene,” ERC said.

The regulatory body added that super petrol recorded a slow fall in prices compared to the decline in the prices of diesel and kerosene. The price of super petrol in the global market fell by 8 %, diesel by 24 % and kerosene by 21 % in January 2016

ERC however, promise to continue its responsibility in observing fair competition and protection of the interests of both consumers and investors in the energy sector, Hivisasa news reports

Anita Fatunji