ERC cuts the pump price of diesel and kerosene
14 April 2014, 17:12
Nairobi - The Energy Regulatory Commission (ERC) cut the maximum retail price of a litre of diesel and kerosene till mid-May but raised the price of a litre of petrol citing an increase in import costs.
Fuel prices have a big effect on inflation in the country, where the economy depends heavily on diesel for transport, power generation and agriculture, while kerosene is used in many households for cooking and lighting.
The government started carrying out a monthly review of retail fuel prices in 2010 after they shot upwards, driving up the cost of living.
The ERC cut the price of a litre of diesel by 1.05 shillings and that of kerosene by 0.75 shillings while a litre of petrol was increased by 0.55 shillings.
The commission said on Monday the cost of importing a tonne of petrol had gone up by 1.34 percent in March from the previous month. Costs of importing diesel and kerosene went down during the period.