Nairobi News

NewsWhat's Hot

Fuel prices drop marginally

By NAIROBI NEWS REPORTER

Fuel prices will from Tuesday decrease with a small margin as Kenyans usher in the festive season.

The Energy Regulatory Commission on Monday released the new prices that will take effect at mid-night.

In the new prices, super petrol has decreased by 40 cents, diesel by Sh1.15 while kerosene by Sh1.54.

The commission which reviews the prices every month has attributed the drop to the decreased import cost.

In Nairobi, a litre of petrol will retail at Sh90.06, diesel at Sh78.51 and kerosene at Sh53.27.

With regard to excise duty which was to increase fuel prices, the commission stated that only one cargo of diesel will have its duty increased.

“In line with the Excise Duty Act 2015, one cargo of diesel (aboard MT Megalonissos) has been increased by Sh2.061 per litre. The other diesel cargoes considered in the price review remain unaffected since their last dates of discharge were before the effective date of the new excise tax,” stated the commission.

In November, fuel prices had dropped with the cost of super petrol going down by Sh2.83 per litre, diesel by Sh2.77 and kerosene 1.23 per litre.

A significant drop had been announced in the October review with the price of petrol going down by Sh9.36, diesel by Sh2.44 and kerosene by Sh3.49.