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XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 
Kenyan energy industry regulator increases retail fuel prices

NAIROBI  (Xinhua) -- Kenya’s energy industry regulator on Thursday increased retail prices for diesel, super petrol and kerosene by different price margins in the latest review for December to mid-January 2018.

The Energy Regulatory Commission (ERC) said the hike was due to global crude prices which went up in the international market during the period of cargo importation.

ERC Acting Director-General Robert Pavel Oimeke said the prices of super petrol per liter will rise to 1.04 U.S. dollars, diesel to 0.92 dollars and to 0.71 dollars for kerosene, mainly used by many households for lighting and cooking.

“The changes in this month’s prices have been as a consequence of the average landed cost of imposed super petrol increasing by 4.21 percent from 610.50 dollars per ton in October to 636.63 dollars per tonne in November,” Oimeke said in a statement issued in Nairobi.

He said the landed cost of imported diesel increased by 0.55 percent from 540.66 dollars per tonne in October to 543.63 dollars in November and kerosene increased by 3.58 percent from 559.58 dollars per tonne in October to 579.64 dollars in November.

The Free On Board (FOB) price of Murban crude oil lifted in November was posted 63.65 dollars per barrel, an increase of 9.55 percent from 58.10 dollars per barrel in October.

Analysts say the new prices will mainly hurt motorists who depend on petrol and diesel for transport and low-income earners who heavily rely on kerosene for cooking.   

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.

           

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