Kenyans now have at least something to smile about this Christmas following the reduction of fuel prices by an average of four shillings per litre.
The Energy Regulatory Commission (ERC) yesterday announced a further reduction in the cost of fuel, which is to take effect from today henceforth. Kerosene, super petrol and diesel decreased by Sh4.94, Sh4.79 and Sh3.67 respectively.
Consumers in Nairobi will now pay Sh90.85 per litre of diesel, Sh71.37 for kerosene and Sh102.01 for Super Petrol, while In Mombasa, diesel will retail at Sh87.54, petrol at Sh98.68 and kerosene at Sh68.61. Maximum prices will be charged in Mandera at Sh104.66 per litre of diesel while petrol will retail at Sh 115.82.
The falling prices have been attributed to a drop in the price of crude oil internationally, which have dropped by more than 40 per cent since July from $115 per barrel to an average of $65 a barrel in December.
Considering that Kenya no longer imports crude oil, ERC Director General Joseph Ng’ang’a attributed the new prices , which are likely to be reduced further in January, to the average cost of imported refined petroleum products.
“Global prices of crude oil have fallen drastically in the past few months and naturally Kenyans expect the retail prices of petroleum to fall accordingly,” ERC director general, Joseph Ng’ang’a said.
And for the first time in years, the price of super petrol will hit the below historic Sh100 mark as it will be retailing between Sh98.68 and Sh99.91 in Mombasa and other nearby coastal towns. In Nairobi, the commodity will be available in pumps at Sh 102.01.
Petroleum marketing companies and dealers who contravene the maximum prices published by the Commission are liable to a fine up to Sh1 million or the withdrawal of the operating licenses.
The news could not have come at a better time as Kenyans are gearing up for the Christmas festivities but judging by the mondus operandi in the public transport sector and especially during the holiday season, it’s unlikely that commuters will be charged less fares and its only private vehicles motorists who will gain from the fuel prices slash.