Business
Fuel Prices Increase for Third Month in A Row
Kenyans face a higher cost of living following a sharp rise in fuel prices as announced by the Energy Regulation Commission (ERC) effective 15th May 2019.
According to the latest monthly revisions, motorists will now have to dig deeper into their pockets to purchase petrol which is now going for Sh112 per litre, an increase of Sh5.43.
Diesel, an important element in the transport and manufacturing industries, is now retailing at Sh104.37, up Sh2 from last month’s price.
Meanwhile, the price of kerosene, mainly used in homes, has risen by Sh2.24 to retail at Sh104.62 per litre.
In Mombasa, a litre of petrol will retail at Sh109.38 with diesel retailing at Sh101.75. The highest prices of fuel will be in Mandera, with petrol going for Sh124.88 while diesel will be priced at Sh117.24.
In Lokichogio, Turkana County, petrol will retail at Sh120.85 per litre. In Moyale, petrol will sell at Sh121 per litre.
ERC attributed the increase in pump prices to the higher landing cost of oil products.
“The changes in this month’s prices have been as a consequence of the average landed cost of imported super petrol increasing 11.39 per cent to $691.25 (Sh69,100) per tonne in April 2019, diesel increasing 2.75 per cent to $641.67 (Sh64,100) per tonne and kerosene increasing two per cent to $675.82 (Sh67.500) per tonne,” said EPRA Director General Pavel Oimeke.
The price reviews have seen petrol pump prices rise for the third month in a row by at least Sh5 per litre since Sh101 in March.
The higher fuel prices will have the net effect of raising the country’s inflation, which was recorded at 6.58 per cent in April.
Fuel is one of the most heavily taxed products with six taxes for petrol and two for diesel. Consumers of Kerosene, although exempted from road maintenance tax, still have to pay an anti-adulteration levy of Sh18 per litre.
