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{
    "id": 292398,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/292398/?format=api",
    "text_counter": 19,
    "type": "speech",
    "speaker_name": "Eng. M.M. Mahamud",
    "speaker_title": "The Assistant Minister for Energy",
    "speaker": {
        "id": 373,
        "legal_name": "Mohammed Maalim Mahamud",
        "slug": "mohammed-mahamud"
    },
    "content": " Madam Temporary Deputy Speaker, I beg to reply. (a) In determining the pump prices, the Energy Regulatory Commission (ERC) considered the following factors:- The actual landed cost of each imported cargo received, which is made up of cost of product at the time the product was procured and cost of shipping to Mombasa, taxes and levies, cost of financing, overheads and margin and distribution costs. (b) I am aware that the price of murban crude in the month of April 2012 was posted at US$121 per barrel as compared to US$126 in March 2012. It is important to note that it takes approximately 60 days to process crude imported and get the products into the market. There is, therefore, a lag between the products being sold in the market and their corresponding crude. During the May 2012 pricing period, the quantity of super petrol and kerosene processed at the Kenya Petroleum Refineries Limited amounted for only 17.38 per cent and 16.83 per cent respectively, of the total product availed in the country. The average landed cost of imported super petrol increased by 2.93 per cent from US$1,200.41 per tonne in March, 2012 to US$1,235.56 per tonne in April 2012. Over the same period, the average landed cost of imported diesel decreased by 2.34 per cent from US$1,085.10 per tonne in March, 2012 to US$1,059.66 per tonne in April, 2012, while the average landed cost of imported kerosene increased by 0.75 per cent from US$1,108.98 per tonne in March, 2012 to US$1117.26 per tonne in April, 2012. Over the same period, the mean monthly exchange rate weakened marginally to Kshs83.24 per US Dollar in April, 2012 compared to Kshs82.82 per US Dollar in March, 2012. (c) I do not consider disbanding the Commission since ERC was established with a wide range of mandate, with price regulation just being one among them."
}