Money Markets
A National Oil petrol station. National Oil has cut prices of diesel at its outlets by a shilling. FILE PHOTO |
NATION MEDIA GROUP
By CHARLES MWANIKI, cmwaniki@ke.nationmedia.com
Posted Wednesday, October 29 2014 at 18:56
Posted Wednesday, October 29 2014 at 18:56
In Summary
- The parastatal is now retailing diesel at Sh99.60 in Nairobi, down from the Energy Regulatory Commission’s maximum of Sh100.67.
Nairobi motorists will buy diesel at under Sh100 for
the first time in more than two years after National Oil cut prices at
its outlets by a shilling.
The parastatal is now retailing diesel at Sh99.60 in
Nairobi, down from the Energy Regulatory Commission’s maximum of
Sh100.67.
Diesel prices last stood below Sh100 in the Kenyan
capital in August 2012, at Sh97.09. In the intervening period the prices
per litre have ranged between Sh101 and Sh107.
Outlets in other towns will also offer the Sh1 discount. The firm has 102 filling stations.
“The price reduction comes at an opportune time for
Kenyans at the onset of the busy farming season. It is anticipated the
benefit of the cost reduction will be passed on to Kenyans by
commercial operators, including in the transport sector,” said the firm
in a statement.
In April 2013, National Oil offered customers a
two-week discount of Sh2 on diesel, which was then retailing at Sh107,
while Vivo Energy offered Sh3 discount.
ERC on October 14 cut the price of diesel by 75
cents, putting the maximum price in Nairobi at Sh100.67, Mombasa
Sh97.34, Nakuru Sh101.53, Eldoret Sh102.68 and Kisumu Sh102.74.
Prices of petroleum products are expected to
sharply come down in the next review, following a fall in crude price to
below $85 a barrel in the international market
No comments :
Post a Comment