Relief for motorists as fuel prices drop in latest review
Motorists can now breathe easy after the price of fuel dropped in the latest review by the regulator.
The price of petrol will from midnight drop by Sh3.74 to Sh91.39 a litre while diesel will go down by Sh2.05 to retail at Sh82.46 in Nairobi, the industry regulator has announced in its latest update.
Kenyans who use paraffin for cooking or lighting have also been spared as the price of Kerosene falls by Sh3.38 per litre to cost Sh59.10 in Nairobi.
The regulator, Energy Regulatory Commission (ERC), attributed the drops to lower global oil prices in a statement issued on Wednesday.
“The changes in this month’s prices have been as a consequence of the average landed cost of imported Super Petrol decreasing by 8.86% from US$ 521.72 per ton in July 2016 to US$475.48 per ton in august 2016; Diesel decreasing by 5.95% from US$ 469.1 per ton to US$ 441.19 per ton and Kerosene decreasing by 8.52% from US$ 493.86 per ton to US$ 451.77 per ton,” read the statement in part.