Motorists will have a sigh of relief as pump prices have been reviewed. Petrol and diesel prices have been reduced by 5 shillings each as the energy petroleum regulatory authority states.
Additionally the kerosene prices have had a better reduction as they go down by 7 shillings 28 cents. This comes after several cries from the public and bills by members of parliament
The fall in the fuel costs is largely a factor of the reinstatement of the price stabilization mechanism which draws fund from the Petroleum Development Levy.
The subsidy makes a return after its freeze in September which sent fuel costs to historical highs across the board.
Subsequent to the fuel costs cuts, a litre of petrol will now retail at Ksh.129.72 in Nairobi down from Ksh.134.72 while diesel will now cost Ksh.110.60.
Kerosene prices will meanwhile settle at Ksh.103.54 per litre.