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Fuel prices go up

14 August 2013, 15:41

Nairobi - The Energy Regulatory Commission (ERC) on Wednesday raised the maximum retail prices for petrol, diesel and kerosene due to rising global oil prices and a depreciating shilling.

The rising costs are set to increase Kenya's inflation rate, as they have a big impact on its calculation. Inflation rose to 6.02 percent in the year to July from 4.91 percent a month earlier.

The energy regulator usually revises domestic energy prices every month, with adjustments made depending on fluctuations in international energy prices and the foreign exchange rate.

The ERC said it had raised the maximum price of a litre of super petrol in Nairobi by 2.74 shillings to 112.26 shillings, that of diesel by 1.58 shillings to 104.44 shillings and that of kerosene by 4.44 shillings to 83.93 shillings.

The economy relies heavily on diesel for transport, power production and agriculture. Kerosene is used in many households for lighting and cooking.

In the past motorists had at one point paid 120 shillings for super petrol.

Import costs for super petrol, diesel and kerosene all rose in July, while the shilling's exchange rate depreciated 1.5 percent to 86.96 per dollar from June.

The new prices will take effect on August 15, and will be in force for a month.

- Reuters

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