Higher oil price pushes petrol prices in Kenya

Nairobi, Kenya — ESI-AFRICA.COM — 11 August 2011 – Petrol prices in Kenya may increase by 2.3 shillings ($0.02) per liter this month in the wake of a rise in international oil prices and a weakening of the shilling against the dollar.

This was announced here by KenolKobil Limited “’ Africa’s fastest growing indigenous oil marketing conglomerate “’ which has an expansive investment portfolio spanning the entire eastern, central and southern parts of the African continent.

The Group has subsidiaries in eight African countries outside its head office in Kenya, including; Uganda, Tanzania, Rwanda, Zambia, Ethiopia, Burundi, Zimbabwe and Mozambique.

Kenyan fuel costs have jumped more than 20% since December, when the country re-introduced price controls. The latest increase on 14 July took petrol to 115.46 shillings (US$1.24) a liter.

The Kenyan Energy Regulatory Commission is scheduled to announce fuel prices for August within the week.