Kenya’s energy regulator Wednesday opted to cut suppliers’ sales margin to keep petrol and diesel prices unchanged and defuse public outrage.
Suppliers’ margin on diesel was cut by Ksh7.31 to Ksh5.05 a litre, keeping the commodity at $0.99.
Recent price increases sparked anger among Kenyans, with the costly fuel unleashing pricing pressure across the economy and having ramifications on the cost of living measure.
The subsidy has been supported by billions of shillings that has been raised from fuel consumers through the Petroleum Development Levy, which was increased to Ksh5.40 a litre in July last year from Ksh0.40, representing a 1,250 percent rise.
Read more: The East African