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XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 

Kenya energy industry regulator hikes retail
pump prices for super petrol and diesel

NAIROBI (Xinhua) -- Kenya’s energy industry regulator on Friday increased retail pump prices for super petrol and diesel while it reduces kerosene by different price margins in the latest review for June to mid-July.

Robert Pavel Oimeke, director-general of Energy and Petroleum Regulatory Authority (EPRA), said the prices of super petrol which is mostly consumed by private vehicles, increased to 3.07 shillings to 1.15 U.S. dollars per litre, diesel used to power commercial vehicles rose by 0.39 shillings to 1.05 dollars while kerosene mainly used by poor homes for lighting and cooking, dropped by 0.34 shillings to 1.04 dollars.

"The changes in this month’s prices have been as a consequence of the average landed cost of imported super petrol increasing by 4.54 percent from 514.72 dollars per cubic metre in April to 538.08 dollars per cubic meter in May," Oimeke said in a statement issued in Nairobi.

He said the average landed cost of diesel increased by 0.52 percent from 533.07 dollars per cubic meter to 535.84 dollars per cubic meter and kerosene decreased by 0.43 percent from 535.17 dollars per cubic meter to 532.89 dollars per cubic meter.

The Free On Board (FOB) price of Murban crude oil lifted in May was posted 72.35 dollars per barrel, a decrease of 0.96 percent from 73.05 dollars per barrel in April.

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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