Slight drop in fuel price

THERE is a slight drop in the price of fuel products for the month of January.
The domestic price of petrol will be K3.05, diesel K2.50 and kerosene K2.44. Compared to last month prices, this is an average drop of 0.97%, Commissioner and Chief Executive Officer of the Independent Consumer and Competition Commission Mr Thomas Abe said yesterday.
Petrol has decreased from K3.06 tpl from December last year to K3.05, diesel from K2.54 to K2.50, and kerosene from K2.45 to K2.44.
These changes in fuel price will come into effect on Feb 8 and Mr Abe urges all fuel suppliers and retailers not to charge above the allowable indicative retail price level.
“As part of its enforcement and compliance duties, the officers from the Commission will conduct inspections at all service stations from 8th January 2010 to ensure suppliers comply with the new determination,” he said.
This announcement comes after InterOil’s advice on its Import Parity Prices (IPP) for the month of January this year based on an interim pricing arrangement as agreed with the government.