Kenya regulator raises fuel prices across the board
16 April 2012, 09:25
Nairobi - Kenya's energy regulator
raised the prices of diesel, petrol and kerosene on Saturday, a
move driven by higher international crude oil costs and likely
to ramp up inflation in east Africa's biggest economy.
The Energy Regulatory Commission (ERC) increased the price
of super petrol in the capital Nairobi by 6.81 shillings per
litre to 118.50 shillings, and that of diesel by 3.67 shillings
to 108.80 shillings.
Kerosene prices in Nairobi went up by 2.14 shillings a
litre to 86.28 shillings. The new prices come into effect on
April 15 and stay in force for a month.
"In the last two months, there has been a steep upward trend
in the price of crude and refined petroleum products in the
international markets. This has a negative impact in current and
subsequent price reviews," ERC Director General Kaburu Mwirichia
said in a statement.
Kenya's economy is highly dependent on diesel for transport,
power production and agriculture while kerosene is used in many
The country's central bank moved aggressively late last year
to cool prices by ramping up interest rates, and the
year-on-year inflation rate fell for the fourth consecutive
month in March to 15.61 percent from 16.69 percent a month