Kenyan Energy Regulatory Commission (ERC) increased the maximum retail prices of petrol, diesel and kerosene in the country. The changes took effective from mid November and will remain valid for a 30-day period, Ecofin Agency reported. The increases are in accordance to international petroleum product prices and their changes in the average landed cost of importing.
According to the commission, the maximum allowed price of super petrol has increased by $0.02/liter, diesel by $0.012/liter, while kerosene has increase by $0.01o/liter. Selected towns in Kenya have been designed to have different price levels for diesel, petrol and kerosene, but all within the maximum price framework, according to CNBC Africa.
ERC warned that petroleum marketing companies or dealers selling petroleum products above the stipulated prices will be fined for the offense. ERC’s Director General, Joseph Ng’ang’a, added: “the purpose of the fuel pricing regulations is to cap the pump prices of the products, which are already in the country, so that importation and other prudently incurred costs are recovered, while ensuring reasonable prices to the consumers.”