Motorists will from midnight buy a litre of super petrol Sh4.24 cheaper, diesel Sh3.93, while kerosene users will save a shilling in the new monthly prices announced by the energy regulator on Saturday.
The Energy and Petroleum Regulatory Authority (Epra) attributes the highest drop in 14 months to a reduction in landed cost.
Importers brought in a barrel of super petrol at $576.34, 2.69 percent lower compared to $592.24, the previous import cycle. They paid $586.8 for a barrel of diesel, 6.37% lower compared to $626.75, while a similar volume of kerosene was bought at $598.28, 1.4 per cent lower.
Global fuel prices have fallen significantly since December, with Brent crude dipping below $67 a barrel due to surging global supply and weakened demand forecasts.
This, combined with increased U.S. production and reduced geopolitical risk premiums, has pushed petrol and diesel prices to multi-year lows, offering relief to consumers.
A litre of Super Petrol will cost Sh178.28 in Nairobi, diesel Sh166.54, and kerosene at Sh152.78. The same will retail for Sh175, 163.26 and Sh144.49, respectively in Mombasa.
It will cost a little bit more in Kisumu where a litre of petrol will go for Sh178.16, diesel Sh166.78 and Sh149.49 for kerosene
