fuel prices
By: Mercy Kachenge
The Energy and Petroleum Regulatory Authority (EPRA) yesterday announced new review of increase oil prices that has to be effective from yesterday midnight upto 14th July.
This means there will be more pain at the pump for fuel consumers. The Energy and Petroleum Regulatory Authority announced new price of fuel to increase by Sh 9.The increase in price of fuel is as a result of the state partially withdrew the fuel subsidy in March last year sending the prices for diesel and petrol to be high.
In May 2022,the country experienced crisis of fuel at various petrol station.
The shortage resulted many bodaboda to make long ques along the filling stations. The rising of fuel is the leading contributor of many petroleum commodities such cooking oil, Laundry soaps among other products.
This is the highest fuel price that Kenya is recording in its history and the highest petroleum review in the year 2022.This is the tough times for citizens as they will to dig deeper in their pockets to purchase goods.
The impact of increase oil price is not only limited to import bill but also results in increase cost of production, transportation, impact in utilities, manufacturing and service sector.
The subsidy program has come under sustained pressure due to the spike in global prices of goods that have increased in compensation margins for oil marketers. The subsidy is supported by the development levee to protect motorist, business and households from high fuel price. The government project to subsidy program is still in place.
The initial price of Super petrol was Sh 150.12 but now is Sh 159.12, Diesel was Sh 131.0 but now goes at Sh 140.0 and Kerosene was Sh 118.94 and now goes at Sh 127.94.
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