Markets & Finance

Relief for motorists as fuel prices drop to four-year low

fuel

Motorists hoping for relief at the petrol pump have reason to smile after the Energy Regulation Commission (ERC) capped prices at the lowest level in four years. FILE PHOTO | NATION MEDIA GROUP

Motorists hoping for relief at the petrol pump have reason to smile after the Energy Regulation Commission (ERC) capped prices at the lowest level in four years.

Effective midnight on Wednesday, the maximum recommended retail price on Super Petrol is down by Sh9.13 to Sh92.88 in Nairobi.

Diesel drops by Sh7.50 to Sh83.35 while kerosene down by Sh5.78 to Sh65.59.

"These are the lowest fuel prices in four years," said ERC director-general Joseph Ng'ang'a.

The commission and industry players have been under fire from motorists in recent months over high pump prices at a time when global crude oil prices have fallen drastically.

More to follow.