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Kenya reduces fuel retail prices amid falls in crude cost

Xinhua, September 15, 2016 Adjust font size:

Kenya's energy industry regulator on Wednesday reduced retail prices for fuel in the latest monthly price review in a move expected to have an impact on the cost of living in the country.

The Energy Regulatory Commission (ERC) said the price of petrol will from (Wednesday) midnight drop by 3.74 shillings to 0.91 U.S. dollars a litre, diesel by 2.05 shillings to 0.82 dollars, and kerosene by 3.38 shillings to 0.59 dollars per litre.

"The changes in this month's prices have been as a consequence of the average landed cost of imported super petrol deceasing by 8.86 percent from 521.72 dollars per ton in July to 475.48 dollars per tonne in August," ERC said in a statement.

According to the ERC, the cost of imported diesel decreased by 5.95 percent to 441.19 dollars per ton and that of imported Kerosene by 8.52 percent to 451.77 dollars per ton.

Fuel prices have a significant impact on inflation in Kenya's economy which depends heavily on diesel for transport, power generation and agriculture, while kerosene is used in many households for lighting and cooking. Endit