Kenya’s May inflation is likely to soar further after gasoline prices jumped to a record high in the latest monthly review on Saturday, despite the use of a fuel subsidy. A liter of gasoline will retail at 150.12 shillings ($1.29) in the capital, Nairobi, while diesel prices increased 4.4% to 131 shillings per liter effective May 15, the Energy and Petroleum Regulatory Authority said in an emailed statement. Kerosene jumped by 5.50 shillings to 118.94 shillings a liter. “The government will utilize the petroleum development levy to cushion consumers from the otherwise high prices,” the agency said. That’s the highest ... (full story)