Kenya raises retail prices of fuel

NAIROBI: Kenyan consumers will pay more for fuel at the pump for the next month after the Energy Regulatory Commission raised retail prices during its monthly review on Tuesday.

The ERC increased the maximum retail price of petrol in the capital, Nairobi, by 2.3 percent to 86.17 shillings ($0.8527) per litre, saying the costs of importing refined petroleum products had gone up.

It also increased the retail prices of kerosene and diesel.

Costs of energy and transport have a significant weighting in the basket of goods and services used to measure inflation in the East African country.