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Why I'm Still Paying 110/= Plus at the Pump
Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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TheGeek wrote:A litre of petrol has increased by Sh1.31 to retail at Sh98.59 in Nairobi, diesel has gone up by Sh1.25 to Sh84.56 while kerosene has increased marginally by 96 cents to sell at Sh62.74. sio mbaya saaana. Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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Source ERC Quote:14th October 2015
Announcement on petroleum pump prices for the period 15th October – 14th November 2015
In accordance with Legal Notice No.196 of 2010 on The Energy (Petroleum Pricing) Regulations, the Energy Regulatory Commission (the Commission) has calculated the maximum retail pump prices of petroleum products which will be in force from 15th October to 14th November 2015.
Taking account of the weighted average cost of imported refined petroleum products, the changes in the maximum allowed petroleum pump price is as follows: Super Petrol reduces by KES 9.36 per litre, Diesel increases by KES 2.44 per litre while Kerosene increases by KES 3.49 per litre.
This was a consequence of the average landed cost of imported Super Petrol decreasing by 18.86% from US$ 695.68 per ton in August 2015 to US$ 564.47 per ton in September 2015. On the other hand, the average landed cost of imported Diesel during the period increased by 5.78% from US$ 492.92 per ton to US$ 521.43 per ton. Additionally, the average landed cost of imported Kerosene during the same period increased by 6.43% from US$ 474.35 per ton to US$ 504.86 per ton.
The Free On board (FOB) price of Murban crude oil lifted in September 2015 was posted at US$ 46.60 per barrel, a decrease of 4.61% from US$ 48.85 per barrel in August 2015. Over the same period, the US Dollar continued to strengthen against other world currencies. As a result, the mean monthly US Dollar to Kenya Shilling exchange rate depreciated by 1.82% from KES 103.26 per US$ in August 2015 to KES 105.14 per US$ in September 2015.
The purpose of the fuel pricing regulations is to cap the pump prices of the products which are already in the country, so that the importation and other prudently incurred costs are recovered, while ensuring reasonable prices to consumers. Oil marketing companies are encouraged to compete below the set maximum prices. Pesa Nane plans to be shilingi when he grows up.
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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Next month we should expect further reduction as the US dollar versus Kenya shilling is now at 102-103 range. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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Mombasa Super Petrol 89.98 Diesel 79.15 Kerosene 53.32 Nairobi Super Petrol 93.29 Diesel 82.43 Kerosene 56.04 Nakuru Super Petrol 94.02 Diesel 83.35 Kerosene 56.88 Eldoret Super Petrol 95.17 Diesel 84.49 Kerosene 57.91 Kisumu Super Petrol 95.23 Diesel 84.56 Kerosene 57.91 Pesa Nane plans to be shilingi when he grows up.
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Rank: Member Joined: 8/16/2012 Posts: 660
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Pesa Nane wrote:Source ERC Quote:14th October 2015
Announcement on petroleum pump prices for the period 15th October – 14th November 2015
In accordance with Legal Notice No.196 of 2010 on The Energy (Petroleum Pricing) Regulations, the Energy Regulatory Commission (the Commission) has calculated the maximum retail pump prices of petroleum products which will be in force from 15th October to 14th November 2015.
Taking account of the weighted average cost of imported refined petroleum products, the changes in the maximum allowed petroleum pump price is as follows: Super Petrol reduces by KES 9.36 per litre, Diesel increases by KES 2.44 per litre while Kerosene increases by KES 3.49 per litre.
This was a consequence of the average landed cost of imported Super Petrol decreasing by 18.86% from US$ 695.68 per ton in August 2015 to US$ 564.47 per ton in September 2015. On the other hand, the average landed cost of imported Diesel during the period increased by 5.78% from US$ 492.92 per ton to US$ 521.43 per ton. Additionally, the average landed cost of imported Kerosene during the same period increased by 6.43% from US$ 474.35 per ton to US$ 504.86 per ton.
The Free On board (FOB) price of Murban crude oil lifted in September 2015 was posted at US$ 46.60 per barrel, a decrease of 4.61% from US$ 48.85 per barrel in August 2015. Over the same period, the US Dollar continued to strengthen against other world currencies. As a result, the mean monthly US Dollar to Kenya Shilling exchange rate depreciated by 1.82% from KES 103.26 per US$ in August 2015 to KES 105.14 per US$ in September 2015.
The purpose of the fuel pricing regulations is to cap the pump prices of the products which are already in the country, so that the importation and other prudently incurred costs are recovered, while ensuring reasonable prices to consumers. Oil marketing companies are encouraged to compete below the set maximum prices. Live and learn; and don’t forget, nothing ventured, nothing gained.
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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What is the Brent trading? We are still being mioked. Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Impunity wrote:What is the Brent trading?
We are still being mioked. KES is very weak. You should be greatful that the hydrocarbons are stuck in a bear since 2014. Otherwise KE would have been facing nasty hydrocarbon inflation with a dead economy! NSE would be in the dustbin sub 3000 and the money market would have been screaming above 30% to guard against that nasty inflation spike.
Be grateful bwana  $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Veteran Joined: 9/18/2014 Posts: 1,127
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hisah wrote:Impunity wrote:What is the Brent trading?
We are still being mioked. KES is very weak. You should be greatful that the hydrocarbons are stuck in a bear since 2014. Otherwise KE would have been facing nasty hydrocarbon inflation with a dead economy! NSE would be in the dustbin sub 3000 and the money market would have been screaming above 30% to guard against that nasty inflation spike.
Be grateful bwana The hydrocarbon bear run cannot last another two years from now. Something will have to give. This fracking business funded by cheap credit(QE) can't hold up on low prices for long. Large oil producing countries are on the ropes currently liquidating their SWF's to fund government deficits. Either they cut back on supply or they bite the dust. The main purpose of the stock market is to make fools of as many people as possible.
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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With the price drop inflation will stay at the 5% range while interest rates are past 20%.Only in Kenya
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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whiteowl wrote:With the price drop inflation will stay at the 5% range while interest rates are past 20%.Only in Kenya Strange! Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Veteran Joined: 9/18/2014 Posts: 1,127
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lochaz-index wrote:hisah wrote:Impunity wrote:What is the Brent trading?
We are still being mioked. KES is very weak. You should be greatful that the hydrocarbons are stuck in a bear since 2014. Otherwise KE would have been facing nasty hydrocarbon inflation with a dead economy! NSE would be in the dustbin sub 3000 and the money market would have been screaming above 30% to guard against that nasty inflation spike.
Be grateful bwana The hydrocarbon bear run cannot last another two years from now. Something will have to give. This fracking business funded by cheap credit(QE) can't hold up on low prices for long. Large oil producing countries are on the ropes currently liquidating their SWF's to fund government deficits. Either they cut back on supply or they bite the dust. http://www.bloomberg.com...-seen-lasting-into-2016
Tic toc goes the clock on this game of chicken. Fracking industry almost completely under water. We get to see who blinks first. The main purpose of the stock market is to make fools of as many people as possible.
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Rank: Elder Joined: 9/29/2006 Posts: 2,570
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Impunity wrote:whiteowl wrote:With the price drop inflation will stay at the 5% range while interest rates are past 20%.Only in Kenya Strange! So which way do we expect fuel prices to head come 15/11/15? The opposite of courage is not cowardice, it's conformity.
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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jerry wrote:Impunity wrote:whiteowl wrote:With the price drop inflation will stay at the 5% range while interest rates are past 20%.Only in Kenya Strange! So which way do we expect fuel prices to head come 15/11/15? Iran will bring in extra output after that nuclear deal so anyone on the wrong end of this oil bear should sit tight. Also there are guys who have very low production costs in some wells like the Saudis($2 to $10/barrel) so they dont care if the bear continues coz it kills competition and when bulls return they'll be the first to sell the bulk of the expensive oil before the competition is brought back to life.So low prices continues into 2016. As for the local fuel prices refer to post #163
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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whiteowl wrote:I think Kenya's refined oil is not from crude oil. That's explains why it's price movement doesn't correlate with any crude oil index. Me think its from recycled used cooking oil or from some palm oil. Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 7/28/2015 Posts: 9,562 Location: Rodi Kopany, Homa Bay
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Good news: Quote:The ERC has reduced the price of a litre of super petrol by Sh2.83, diesel by Sh2.77 and kerosene Sh1.23 in pump prices for November 15 to December 14.
In Nairobi, motorists will pay Sh90.46 for a litre of super petrol, Sh79.66 for diesel and Sh54.81 for kerosene.
A litre of super petrol will cost Sh87.16 in Mombasa diesel Sh76.38 and kerosene Sh52.10. - See more at: http://www.the-star.co.k...ces#sthash.BhoC3np9.dpuf
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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Crude oil @ $35 heading to sub 30.ERC Wazuans, by next month you'll need new formulas
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Rank: Veteran Joined: 11/19/2010 Posts: 1,308 Location: nairobi metropolitan
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We might not feel the effect with the new excise duty. Democracy does not belong to the dead
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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When Crude was at US$100, Petrol in Kenya was at 100/=, Now, Crude is at US$35, We are at 90/=. Who is kidding who? Meanwhile, even after increase in Excise Duty (10/= per liter), Petrol Price is DOWN by 40cts. Diesel is also DOWN by 1.15/=. The GoK is committed not to see the prices go lower than 80/- and 60/- respectively. Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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dunkang wrote:When Crude was at US$100, Petrol in Kenya was at 100/=, Now, Crude is at US$35, We are at 90/=. Who is kidding who?
Meanwhile, even after increase in Excise Duty (10/= per liter), Petrol Price is DOWN by 40cts. Diesel is also DOWN by 1.15/=.
The GoK is committed not to see the prices go lower than 80/- and 60/- respectively. taxes for the big to keep looting "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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Excise duty on petrol and diesel wasn't applicable this time around. The excise duty was implemented in 2009 by one Amos Kimunya. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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