Govt at fault over fuel prices – Cofek
19 September 2012, 15:24
Nairobi – The move by the Energy Regulatory Commission (ERC) to increase fuel prices last week, set consumers off balance, after two consecutive months of reprieve.
With inflation rates having eased to 6.09 percent last month and the Central Bank’s cut to its key lending rate by 350 basis points to 13 percent, the ERC’s move has been criticised as retrogressive.
In the regulator’s latest fuel price review Super petrol in Nairobi went up by Sh2.47 to sell at 108.95, diesel by Sh3.99 to retail at Sh101.07 and kerosene to retail at Sh79.65 after going up by Sh5.68. It attributed the increase to an upward trend in the price of crude and refined petroleum products in the international market over the last three months.
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