Motorists across Kenya are set to pay significantly more for fuel after the Energy and Petroleum Regulatory Authority (EPRA) announced a sharp increase in pump prices in its latest monthly review.
In the new prices, petrol has increased by Ksh16.65 per litre to retail at Ksh214.25, while diesel has risen by Ksh46.29 to retail at Ksh242.92. The latest adjustments are expected to trigger higher transport and commodity costs across the country as consumers grapple with the rising cost of living.
The price review comes amid continued volatility in global oil markets and pressure on the Kenyan shilling against major international currencies. EPRA stated that the revised prices take into account the average landed cost of imported petroleum products as well as taxes and levies applicable under Kenyan law.
Public service vehicle operators and business owners are likely to feel the greatest impact of the increases, with concerns already emerging over possible fare hikes and increased operational costs.
Economists warn that the sharp rise in diesel prices could especially affect food distribution and agricultural production due to the heavy reliance on diesel-powered transport and machinery.
The new fuel prices will take effect immediately and remain in force until the next monthly review by EPRA. Kenyans have continued to call on the government to introduce measures aimed at cushioning households from the continued rise in fuel and energy costs.
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