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BY NAMULONGO PETER,NAIROBI,14TH NOV,2020-Motorists are set for relief after an all inclusive drop in the cost of fuel was announced on Saturday in the mid-month review by the Energy and Petroleum Regulatory Authority (EPRA).
The cost of super petrol is from midnight expected to reduce by Ksh1.42 while that of diesel will drop by Ksh.2.21.
Kerosene costs will similarly reduce by Ksh.2.10 per litre rounding off the all inclusive drop in fuel costs.
EPRA has attributed the reduction in fuel costs to a fall in the average cost of imported petroleum products.
“The changes in this month’s prices are as a consequence of the average landed cost of imported super petrol decreasing by 4.45 per cent, diesel by 7.42 per cent and kerosene decreasing by 7.42 percent,” the regulator said in a statement.
Subsequently, the cost of super petrol in Nairobi is expected to fall to Ksh.105.85 per litre, while the price of diesel and kerosene will fall to Ksh.90.70 and Ksh.81.63 respectively.
The all round drop in fuel costs is expected to slam the brakes on rising consumer costs which surged last month owing largely to previous fuel cost increases.
October inflation for instance jumped for the first time since April to 4.84 per cent from an year low 4.2 per cent in August and September on the back of increased fuel costs.
This is as the transport costs rose by 0.62 per cent from the fuel cost increases.
Petrol prices in October had risen by 1.72 per cent offsetting a 1.68 per cent decline in diesel prices.