Kenyas fuel prices have dropped with a wide margin since the beginning of the year, following drop in global crude oil prices.
The country’s energy regulator, ERC has cut down price of Super petrol by Sh 2.14 a litre, diesel down by a remarkable Sh 8.82 a litre and kerosene down by Sh 6.51.
“Kenya’s pump prices fall in line with global trends in refined petroleum products,” said ERC Director general, James Ng’ang’a.
The decrease in fuel prices announced by ERC does not represent a decrease in world oil prices.
Average global oil price had dipped below $30 a barrel last Friday but rose to around $31 by close of the week.
Speculators have attributed the slight rise to rumours big producers like Saudi Arabia and Russia, among other OPEC countries could cut down on production capacity.