Good News For Motorists As Super Petrol Prices Dip By 4.57 Shillings

Motorists across the country have something to smile about this festive season after the Energy and Regulatory Commission (ERC) reduced the price of Super Petrol by 4.57 shillings on every liter.

This means that beginning Friday midnight, motorists will be buying Super Petrol less 4.57 shillings than the current price. The news comes at a time most public service vehicle owners often take advantage of the festive seasons to hike bus fares due to a large number of travelers.

The price of Diesel has gone down by 0.55 shillings per liter while that of kerosene has been slightly reduced by 6.61 shillings per liter.

“The current prices are inclusive of Value Added Tax (VAT) at 8 percent in line with the provisions in the Finance Act 2018,” said ERC in a statement.

ERC adjusts prices of fuel every 15th of the new month meaning the current prices will be effective till another review on 14th or 15th of January 2019.

According to the commission, the lowering of the fuel prices was informed by the average landed cost of imported Super Petrol which went down by 8.46 percent from 758.34 US dollars per ton in October to 694.18 US dollars per ton in November 2018.

The average landed cost of imported Diesel decreased by 2.58 percent from 741.33 US dollars per ton to 722.17 US dollars while that of Kerosene dropped by 11.12 percent from 763.47 US dollars per ton to 678.57 US dollars.