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Kenya raises fuel prices amid rising global crude cost

Xinhua, November 15, 2016 Adjust font size:

Kenya's energy industry regulator on Monday increased retail prices for super petrol, kerosene and diesel in the latest monthly price review.

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

The Energy Regulatory Commission (ERC) said the price of petrol will increase by 0.034 U.S. dollars (3.38 Kenyan shillings) to 0.94 dollars per liter; diesel price will increase slightly to 0.82 dollars per liter; while kerosene price will increase by 0.034 dollars to trade at 0.62 dollars per liter.

The ERC said changes in this month's prices were consequences of the rising average landed cost of imported super petrol, diesel and kerosene.

The Free on Board (FOB) price of Murban crude oil lifted in October was posted at 51.35 dollars per barrel, an increase of 12.86 percent from 45.50 dollars per barrel in September.

The new prices will be in place until Dec. 14 when the ERC adjusts them in its monthly reviews. Endit