The drop is expected due to a reduction of the cost of imported refined oil by 10 percent.

The cost of refined oil currently stands at $105.96 down from 118.53 per barrel going by the new prices. The 10 percent price reduction has raised hopes of a probable price reduction at the pump.

The occasional review by the Energy and Petroleum Regulatory Authority will be done on Friday, October  14.

The fuel prices will likely be revised to take a downward trajectory

EPRA, the fuel regulatory body, relies on refined oil's landing costs to calculate the pump's selling price.

Other factors considered include the shillings exchange rate compared to the dollar, profits for oil retailers, and other factors of production such as storage and transportation costs.

In the last notice by EPRA, the prices of super petrol, diesel, and kerosene increased by Ksh 20.18, Ksh 25, and Ksh 20 respectively.

The review in prices was done shortly after president Ruto assumed office and scrapped the fuel subsidy program that had been institutionalized by his predecessor Uhuru Kenyatta.

President Ruto termed the subsidy program as unsustainable and likely to increase the taxpayers’ burden.

Kenyans will have a reason to heave a sigh of relief from high pump prices should the fuel prices drop.

The fuel prices in Kenya are at a historic high with Petrol retailing at 179.30 shillings, Diesel retailing at Ksh 165, and Ksh.147.94 per liter of kerosene.

The cost of fuel and energy has a huge bearing on the cost of basic commodities such as food and other utilities thereby skyrocketing the cost of living.

The drop in prices might however be short-lived judging by the reduction of petroleum products exportation by the OPEC countries.

The move could potentially lead to instability of prices due to a shortage of the commodity.

Member countries of the OPEC  include; Algeria, Angola, Venezuela, United Arab Emirates, Congo, Equatorial Guinea, Saudi Arabia, Nigeria, Libya, Gabon, Iran, Iraq, Libya, and Kuwait.