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Fuel prices go down

The Energy Regulatory Commission (ERC) on Sunday offered Kenyans an early Christmas gift, by lowering the price of fuel by an average of Sh. 4.

This is the third successive month that the body is reducing the price of the precious commodity, a development analysts attribute to the reduction of world fuel prices around the globe, owing to a decreasing demand from manufacturers and suppliers.

Global crude prices have dropped by more than 40 percent since July from $115 per barrel to an average $65 a barrel in December.

DECREASED PRICES

“Taking into account the weighted average cost of imported refined petroleum products, the maximum allowed price for the period 15th December to 14th January 2015 is as follows; Kerosene decreases by KES 4.94 a litre, Super Petrol decreases by KES 4.79 per litre, while Diesel decreases by KES 3.67 per litre,” the Commission’s director general Joseph Ng’ang’a.

Starting Monday morning, fuel will retail at Sh 102.01 a litre for petrol, 90.85 for diesel while a litre of Kerosene will retail at Sh 71.37 in Nairobi.

Motorists with plans of travelling upcountry during the festive seasons look set to celebrate the latest prices, but the same cannot be said of passengers on public service vehicles which have a tendency of hiking fares at this time of the year.