Kenyans yesterday woke up to reduced fuel prices, the lowest prices posted since March 2011. The price drop was foreseeable considering the trend in international oil prices. The Free On Board (FOB) price of Murban Crude oil was post at USD 97.35 per barrel in June, a 12 per cent decrease from USD 110.60 in May. The FOB price of Murban crude oil have been on a decline for the past three months, being posted at USD 121.20, USD 110.60 and USD 97.35 per barrel in April, May and June respectively.

The recent fuel price review saw the price of super petrol drop by Ksh 9.21, from Ksh 117.67 per litre to Ksh 108.46 per litre. This is lowest posted super petrol retail price since March 2011 when a litre retailed at Ksh 102.44.

The latest pump price review also saw the price of diesel drop to Ksh 97.50, reflecting a decrease of Ksh 8.01 from Ksh 105.51. The last time diesel retailed below the Ksh 100 mark in Nairobi was in March 2011 when a litre retailed at Ksh 94.53.

The price of kerosene on the other hand dropped by Ksh 8.8, from Ksh 83.20 to Ksh 74.40 per liter. This is the lowest posted kerosene price since December 2010 when a litre retailed at Ksh 73.49 in Nairobi. It is though important to note that December 2010 kerosene didn’t have tax cuts as it is currently the case.

Below is the trend in fuel prices for the past 13 months:

Click on the graph for more detailed information