Tuesday, October 11, 2022 – Fuel prices in the country are expected to fall drastically on Friday following the drop in prices of imported refined fuel by 10 percent.
On Friday the Energy and Petroleum Regulatory Authority (EPRA) will announce the new prices of fuel in the country and they may drop between 10- 15 shillings.
The cost of imported refined oil dropped from $117.53 per barrel to $105.96, setting the stage for a fall in pump prices for the next month
EPRA calculates fuel prices based on the average landed costs of the commodity and the shilling’s exchange rate against the dollar.
In last month’s review, EPRA increased the price of super petrol by Sh 20.18, diesel by Sh 25, and kerosene by Sh 20, respectively.
The drop in fuel prices is good news to President William Ruto since he has been assuring ‘hustlers’ that the prices of the crucial commodity will come down in the next few months.
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