Kenya lowers retail fuel prices

Source: Xinhua| 2017-07-15 02:55:24|Editor: huaxia
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NAIROBI, July 14 (Xinhua) -- Kenya's energy industry regulator on Friday decreased the retail prices for diesel, super petrol and kerosene by different price margins in the latest review for June to mid August.

The Energy Regulatory Commission (ERC) said the prices of super petrol per litre will fall to 0.97 U.S. dollars, diesel to 0.84 dollars and to 0.62 dollars for kerosene, mainly used by poor homes for lighting and cooking.

ERC Acting Director-General Pavel Oimeke attributed the drops to lower global oil prices during the period of cargo importation.

Market analysts say the new prices will mainly benefit 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. Enditem