Regulator cuts Fuel Prices

Kenya’s energy regulator lowered retail fuel prices for petrol, diesel and kerosene on Sunday, citing a stronger shilling versus the dollar, and slightly lower crude oil prices on the world markets. Fuel prices have a big impact on the rate of inflation in the east African economy. The rate, which slowed to 4.11% in March from 4.45% a month earlier. The Energy Regulatory Commission (ERC) trimmed the maximum price of a litre of super petrol in Nairobi by 0.04 shillings to 117.65 shillings, while it lowered the price of diesel by 0.93 shillings to 106.44 shillings. The price of kerosene will fall by 4.71 shillings to 83.83 shillings. The economy heavily depends on diesel for transport, power generation and agriculture, while kerosene is used in many households for lighting and cooking. The regulator reviews domestic energy prices every month, with adjustments made depending on fluctuations in international energy prices. The new prices will take effect on April 15, and will be in force for a month.

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