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Relief for motorists as fuel prices drop to lowest in more than a decade

It is a good time to be a motorist, after fuel pump prices dropped by about Sh20 for every litre, the biggest fall in over a decade.

The drop has seen Kenyan motorists start enjoying the benefits of the collapse in international crude prices, after more than two years of waiting.

In its latest monthly review, the Energy and Petroleum Regulatory Authority (EPRA) cut diesel prices by the biggest margin of Sh19.9 per litre, giving transporters and big manufacturers a major relief.

Petrol reduced by Sh9.54 while Kerosene increased bySh2.49 per litre from last night, when oil marketers were expected to adjust their pump prices.

EPRA, however, said computation of the pump prices took into account the changes occasioned by the Tax Laws (Amendment) Act of 2020, which made taxes and other levies part of the vatable amount in the calculation of value-added tax (VAT) for petroleum products.

This effectively denied motorists extra savings.

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