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ERC raises diesel, kerosene prices, lowers petrol

14 June 2014, 17:32

Nairobi - The Energy Regulatory Commission (ERC) raised the maximum retail price of a litre of diesel and kerosene on Saturday, and lowered that of petrol, reflecting their import costs.


Fuel prices have a big effect on inflation in east Africa's biggest economy, which relies 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 raised the price of a litre of diesel by 0.10 shillings and that of kerosene by 0.32 shillings per litre.


It cut the price of petrol by 0.11 shillings per litre.


The commission said the cost of importing a tonne of kerosene rose 0.13 percent in May, while that of diesel had gone up by 0.29 percent and that of petrol had fallen 1.05 percent.


The price adjustments take effect on June 15 and stay in place for one month.

- Reuters

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