Fuel prices in Kenya have dropped for the first time in four months.
One litre of petrol will in the next 30 days cost Sh3.74 less while diesel is down Sh2.05 a litre in the latest price review by the Energy Regulatory Commission (ERC).
In Nairobi motorists will for the next one month pay Sh91.39 per litre of petrol at the pump while diesel will cost Sh82.46 in the month to October 14 when the next review is expected.
In Kisumu, a litre of super petrol will set motorist back Sh93.42 while a similar quantity of diesel will set them back Sh84.65. For a litre of kerosene, which attracts Sh7.21 excise duty in bid to encourage uptake of Liquefied Petroleum Gas (LPG), consumers will part with Sh61.06.
The cost of petrol imports dropped 8.8 per cent in the review period, while that of diesel was down 5.9 per cent, according to the energy regulator.
Kenyans consume an average of 125 million litres of petrol monthly while diesel consumption stands at an average of 200 million litres per month.
This means the price drops will save consumers Sh877.5 million that can be channeled to other uses in the economy. Kenya now purely depends on imports for its monthly.
In Eldoret, a litre of Kerosene will retail at Sh61.06, same as in Kisumu. The same will, however, retail slightly higher in Kakamega at Sh61.13.
There is a lag of between 30 and 45 days between the placing of supply orders and actual delivery of consignments at the Mombasa port, meaning local prices do not immediately reflect global market trends.
