Reprieve for motorists as ERC announces drop in fuel prices

Motorists will pay less at the fuel stations for the next four weeks with petrol and diesel prices set to come down from mid night Friday.

The Energy Regulatory Commission, ERC, released the new fuel prices on Friday afternoon. The price of diesel has fallen by Sh 6.15 per liter. Kerosene has dropped by Sh 4.57 per liter and Super Petrol  by Sh 4.09 per liter.

The new prices will be in effect until December 14th this year. ERC attributes the big drop in prices to a decrease in the average landed cost of all the three imported petroleum products due to the depressed global fuel prices.

The cost of Electricity is also expected to come down. You may not have noticed but your electricity bill is now 3.75 shillings less for every unit consumed. This is a reduction in the fuel charge, thanks to the 140 Megawatts of geothermal power added to the national grid recently. The cost of power might drop further to about 52% before the end of this year.

Due to the reduced cost of fuel and electricity, energy CS David Chirchir has asked manufacturers to reduce the cost of consumer commodities by a similar margin.