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Fuel prices reduce marginally in latest review

Motorist have nothing much to celebrate in the latest price review by Energy Regulatory Commission (ERC) announced on Wednesday.

Fuel prices reduced marginally, with the price of petrol and kerosene going down by Sh0.86 and Sh0.23  respectively per litre.

The price of diesel also went down by Sh1.16 per litre in new pump prices.

In a statement, the energy commission said the new prices took into account the weighted average cost of imported refined petroleum products.

In Nairobi, Kerosene will retail at a Sh65.05 per litre, while petrol will retail at Sh98.73 per litre and diesel will go for Sh86.89 per litre.

The new prices will take effect at midnight Wednesday and be in force until the next price review on July 14.

The commission also oil marketer and dealers not to sell petroleum products above the recommended.

Defaulters will be liable to a fine of up to Sh1 million or withdrawal of their operating licence.