Kenyans planning to travel upcountry this festive season will have to dig dipper in their pocket, this follows a sudden increase in fuel prices as announced by the Energy Regulatory Commission (ERC) yesterday
This comes barely a month after the commission lowered fuel prices, causing celebration among diesel and kerosene users. Motorists using diesel in Nairobi have been paying 34 cents less per litre, compared to the previous month.
According to yesterday’s announcement, motorists using petrol in Nairobi will have to pay Sh3.38 more as the price has been adjusted upwards from Sh91.56 to Sh94.94 per litre.
Nairobi residents will pay five cents more per litre of diesel, which has shot to Sh82.17 per litre. Kerosene rose by Sh3.45 per litre to retail at Sh62.16.
A statement from the ERC indicated that the changes were a result of increased costs of the imported fuel in September.
“The changes in this month’s prices have been as a consequence of the average landed cost of imported Super Petrol increasing by 8.12 per cent from $479.33 (Sh47,930) per tonne in September to $518.23 (Sh51,823) per tonne in October 2016.
The average landed cost of diesel increased from $435.40 (Sh43,540) per tonne to $435.46 (Sh43546) per tonne and Kerosene increased by 10.68 per cent from $433.07 (Sh43,307) per tonne to $479.30 (Sh47,930) per tonne,” said the commission in a press release.
The purpose of the fuel pricing regulations is to cap the pump prices of the products which are already in the country, so that importation and other prudently incurred costs are recovered, while ensuring reasonable prices to consumers, added ERC.
The sharp increase in fuel prices is expected to worsen the already tough economic temperatures in the country whose over 1.3 million citizens are facing starvation following prolonged drought in at least 13 counties.
Prices for key domestic products like maize flour and sugar have been souring since May.