Motorists will tomorrow morning wake up to reduced fuel prices as the energy regulator, ERC, reviews fuel prices downwards. However, households that depend on kerosene will have to tighten their belts this month as the commodity’s price rises by KES 1.57.
Super petrol in Nairobi will, as of tomorrow, retail at KES 112.61 from KES 113.68. Diesel will retail at KES 105.79 down from KES 105.85 while the price of kerosene will increase to KES 86.44 from KES 84.87.
The above price changes are still within the range of our predicted fuel prices. We had predicted that the price of super petrol would drop to KES 113.01 but it ended up dropping to KES 112.61 reflecting a 40 cents difference from out initial forecast. We projected that the retail price of diesel would drop to KES 105.22 but ended up dropping to KES 105.79, reflecting a difference of 57 cents from what we had initially projected.
We had projected that the price of kerosene would drop to KES 84.68 but price ended up rising to KES 86.44, reflecting a KES 1.76 difference from what we had projected.
Factoring in the + or – KES 3 allowance that we include in our projections, we were, somewhat, within our projected estimates.
Keep it here to know why fuel prices dropped.