Kenya cuts fuel prices, citing stronger shilling
The prices of fuel have been reduced again.
According to Energy Regulatory Commission ERC, the price of Super Petrol in Nairobi has gone down by 7.11 shillings per litre, Diesel decreases by 3.08 shillings per litre while that of Kerosene decreased by 3.63 shillings per litre.
Super petrol in Nairobi will now go for 111.95 shillings; diesel 107.90 shillings while kerosene will now retail 87.11shillings.
ERC says, the maximum prices for the other towns have also been adjusted accordingly.
In a statement the director general Eng. Kaburu Mwirichia said the variations between the actual decreases and the previous estimates are as a result of incorporating exchange rates for specific cargoes discharge dates.
He said in the last seven months, there has been an erratic trend in the price of crude and imported refined petroleum products in the international market coupled with volatile performance of key economies in the world.
He said the local currency has strengthened relative to the US dollar impacting positively on the local pump prices.
He warned petroleum marketing companies and dealers against exploiting consumers.
The pump prices are expected to take effect from Sunday 15th January 2012 to 14th February 2012.
The Energy Regulatory Commission reduced prices by five shillings in December last year. It was the first decrease in 12 months. The drop was effected following calls from parliament and activists for the ERC to be disbanded.