The Energy and Petroleum Regulatory Authority on Tuesday announced a major drop in fuel prices.
Fuel prices to drop by upto Sh18 starting midnight today
Good news for motorists
Super Petrol, Diesel and Kerosene will now retail at Sh92.87, Sh97.56 and Sh77.28 respectively in Nairobi starting midnight on Tuesday.
"Taking into account the weighted average cost of imported refined petroleum products, the changes in the maximum allowed petroleum pump prices in Nairobi are as follows: Super Petrol, Diesel and Kerosene decreases by Sh18.00, Sh4.09 and Sh18.18 per litre respectively," a statement from Director General Pavel Oimeke read in part.
Mr Oimeke explained that the change was caused by a global drop in crash in crude oil prices.
He also noted that the drop had not been reflected in diesel prices due to an imported consignment that was procured in February.
"It is worth noting that the Diesel cargoes used in the computation of this month's prices were procured in February 2020 when the crude oil price was relatively high. Accordingly, the effect of the recent crash in crude oil prices will be reflected in the retail price of diesel in subsequent reviews," the statement outlined.
The prices remain valid for the next 30 days.
JOIN OUR PULSE COMMUNITY!
Eyewitness? Submit your stories now via social or: