Falling fuel prices could be Kenya’s ‘silver bullet’

High fuel cost component has been one of the biggest burdens for industries but the fall could help shore up their revenues.

NAIROBI: Falling fuel prices could help jump-start the economy this year. The Energy Regulatory Commission (ERC) latest price adjustments came as a welcome sign to motorists across the country who until yesterday were paying an average of Sh102 for a litre of super petrol in Nairobi.

And for the first time in four years, consumers saw pump prices go below the Sh100 mark with the ERC promising even further cuts. “We are confident that the global fall in crude oil prices will trickle down to the consumers and we are committed to make sure that this happens. We project further price cuts in our next review in a month’s time,” said Eng Joseph Nganga, ERC’s director general.