Energy Regulatory Commission reduces fuel prices in Kenya

NAIROBI, KENYA: Price of a litre of Super Petrol down by Sh 9.13, Diesel drops by Sh7.50 while Kerosene will be Sh5.78 cheaper, says ERC.

"Taking into account the weighted average cost of imported refined petroleum products, the overall result is that the maximum allowed price of Super Petrol decreases by KES9.13 per litre, that of diesel decreases by Ksh 7.50 per litre, while that of Kerosene decreases  by Ksh 5.78 per litre." read part of the statement.

Developing countries are expected to benefit from this oil slump.

The purpose of the fuel pricing regulation is to cap the pump prices of the products which are already in the country, such as the importation and other prudently incurred costs are recovered, while ensuring reasonable prices to consumers.

According to ERC, it is an offence to sell petroleum products above the maximum prices published by the commission.

Any party that contravenes this requirement is liable to a fine of Sh1 million and/or the withdrawal of the operating system.