Kenya Slashes Petrol, Diesel
and Kerosene Prices
January 15, 2012 at 9:47 am by
Afolabi Ogunde
At a time when sub-Saharan
Africa countries are witnessing
increases in gas prices, often by
outrageous increments, the
Kenyan government has
announced the reduction of
petrol prices in the country.
Citing a stronger currency that is
offsetting adverse effects of
higher crude oil prices, the
government has scheduled the
new price regime to begin today.
The East African country has also
announced a reduction in the
price of Kerosene and Diesel in a
move certain to please the
population.
The Energy Regulatory
Commission shaved off 7.11
shillings from the price of petrol,
3.08 shillings from the price of
diesel and 3.63 shillings from the
price of kerosene.
A statement from the regulatory
body on the reason for the
increase stated, “Recently, the
local currency has strengthened
relative to the US dollar and this
has impacted positively on the
local pump prices. Over the same
period, the mean monthly
exchange rate improved to
Sh86.79 per US dollar in
December 2011 from Sh93.64
per US dollar in the previous
month, a change equivalent to
7.32 per cent.”
The regulator also read the riot
act to petroleum product
marketer stating it will issue a
fine of KES 1 million to any
marketer selling beyond the
maximum price.
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