Kenya, the largest East African economy, cut the maximum prices of gasoline, diesel fuel and kerosene after the shilling strengthened against the dollar.
So-called super petrol, the most commonly used gasoline grade, fell 0.6 percent to 111.32 shillings ($1.34) a liter (0.3 gallons) in the capital, Nairobi, the Energy Regulatory Commission said in an e-mailed statement today.
Diesel prices decreased by 2.61 shillings per litre to 105. 29 shillings while that of kerosene, a fuel used for cooking and lighting, fell 3.37 shillings to 83.74 shillings, the commission’s director-general, Kaburu Mwirichia, said in the statement.
“Recently the local currency has remained stable over the review period relative to the U.S. dollar and this has impacted positively on the local pump price,” Mwirichia said.
Since the last price review on Jan. 14, the Kenyan currency has strengthened 4.9 percent to 82.65 against the U.S. dollar, according to data compiled by Bloomberg.