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Kenya hikes retail prices for petrol, lowers diesel

Xinhua, May 14, 2017 Adjust font size:

Kenya's energy industry regulator on Sunday hiked petrol and kerosene pump prices but reduced those of diesel by different price margins in the latest review for May 15-June 14 citing increase in global crude oil prices.

The Energy Regulatory Commission (ERC) said the review have been as a result of the average landed costs of imported super petrol increasing by 0.94 percent from 563.62 U.S. dollars per tonne in March to 568.92 dollars per tonne in April.

The regulator said the average landed cost of imported diesel decreased by 2.20 percent from 504.83 dollars per tonne in March to 493.92 dollars per tonne in April and kerosene rose by 1.93 percent from 497.44 dollars per tonne in March to 507.02 dollars per tonne in April.

Petroleum pump prices in Nairobi for super petrol will increase by 1.59 shillings, kerosene will rise by 0.90 shillings and diesel will decrease by 0.57 dollars, ERC said in a statement.

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