Reprieve for motorists as ERC minimally reduces prices of petrol

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BY KORIR JUMA,NAIROBI,14TH MARCH 2018-Motorists can now breath easy after the energy regulatory commission (ERC) reviewed the prices of fuels downwards.

In its latest monthly prices review,  the commission has  reduced  prices of petrol by  Sh. O.46  per litre and will retail at Sh.107.46, diesel will retail at Sh97.86 while Kerosene hits Sh77.45 in Nairobi.

According to ERC  Director General , Robert Oimeke said that the reason for the minimal reduction  was to ensure that the importation costs incurred is recovered without  having to hurt consumers.

“The purpose of the fuel pricing regulations is to cap the pump prices of the products which are already in the country so that the importation and other prudently incurred costs are recovered, while ensuring reasonable prices to consumers,” he said

The new prices will take effect at Midnight.

 

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