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Monday, December 15, 2014
Kenya’s Energy Regulatory Commission cut the maximum retail prices of petroleum products on December 14. The cut in price comes as the cost of importing refined products falls. Kenya keeps a cap on the price of imported processed fuels such as diesel and kerosene, to help ease the burden on consumers.
The ERC reduced the maximum price of a liter of petrol in the capital Nairobi by 4.5% to 102.01 shillings ($1), but still far higher than the 70-80 shillings it retailed at in 2009, when the price of crude was at around the current levels. The commission also reduced the price of a liter of diesel by 3.67 shillings to 90.85 shillings and that of kerosene by 4.94 shillings to 71.37 shillings.
Joseph Ng’ang’a, the director general of the ERC, said the weakening of the Kenyan shilling against the dollar had restricted the commission’s ability to cut prices more.
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