ERC increases price of diesel and petrol
15 May 2014, 08:15
Nairobi - The energy regulator increased the maximum retail price of a litre of petrol and diesel till mid-June but decreased the price of a litre of kerosene citing an decline in import costs.
Fuel prices have a big effect on inflation in east Africa's biggest economy, 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 Energy Regulatory Commission increased the price of a litre of diesel by 0.89 shillings and that of petrol by 0.57 shillings while a litre of kerosene was decreased by 0.35 shillings.
The commission said on Wednesday the cost of importing a tonne of kerosene had decreased up by 0.6 percent in April from the previous month. Costs of importing petrol also decreased but the cost of diesel imports rose.