Kenya has slashed the prices of super petrol, diesel and kerosene by Sh1.42, Sh2.21 and Sh2.10 per litre respectively, with immediate effect.

The Energy and Petroleum Regulatory Authority for Residents, said Nairobi residents will therefore be paying Sh105.85 for super petrol, Sh90.70 for diesel and Sh81.63 for kerosene.

In Mombasa, residents will pay Sh103.45 for super petrol, Sh88.31 for diesel and Sh79.25 for kerosene, while Nakuru residents will part with Sh105.56 for super petrol, Sh90.63 for diesel and Sh81.59 for kerosene.

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Meanwhile, Eldoret residents will pay Sh106.48 for super petrol, Sh91.56 for diesel and Sh82.51 for kerosene.

 According to Capital FM, the new prices are a consequence of the average landed cost of imported Super Petrol decreasing by 4.4% from US$331.37 in September to US$316.62 per cubic metre in October 2020.

During the same period, diesel decreased by 7.42% from US$311.99 to US$288.83 per cubic metre. Kerosene decreased by 7.42% from US$282.09 to US$261.17 per cubic metre, the report said.

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The free-on-board price of murban crude oil in October was posted at US$40.16 per barrel, a decrease of 5.17% from US$42.35 per barrel in September, Capital FM said.

“The purpose of the petroleum pricing regulations is to cap the wholesale and retail prices of petroleum products, which are already in the country so that importation and prudently incurred costs are recovered while ensuring reasonable prices to consumers,” says the authority.

By Chibisi Ohakah, Abuja

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