Organization of Petroleum Exporting Countries (OPEC)

The Independent Consumer and Competition Commission (ICCC) announced yesterday the new retail fuel prices which come into effect.

Petrol decreases by 7.42 toea per litre (tpl) from 318 tpl in May to 310.95 in June.

Diesel now sits at 251.82 tpl after dropping by 7.54 tpl from 260.11 last month.

And kerosene drops from 244.38 tpl in May to 237.08 after falling by 6.63 tpl.

The latest fuel prices released by the Independent Consumer & Competition Commission yesterday show petrol dropping by mire than 8 toea per litre (tpl) and diesel and kerosene dropping by over 10 tpl.

The decreases follow three months of consecutive fuel price hikes with November recording the highest with all three main fuels rising by 13 per cent.

The new retail price for petrol stands at 299.78tpl (K3.00 per litre) after dropping by 8.40tpl.