Kenyans to dig deeper into pockets after ERC hikes fuel pump prices

[Photo: Courtesy]

Kenyans will have to dig deeper into their pockets after the Energy Regulatory Commission hiked fuel pump prices to a six-month high.

The regulator in its latest monthly price review yesterday increased maximum pump prices for super petrol, diesel, and kerosene by Sh2.13, Sh2.39, and Sh3.36 a litre respectively in Nairobi.

This means that a litre of super petrol in the capital will now retail at Sh106.3, with ERC blaming the upward review on an increase in the cost of the fuel in the international market.

“The changes to this month’s pump prices are attributed to an increase in the landed cost of super petrol by 3.99 per cent as compared to December 2017, diesel by 4.63 per cent, and kerosene by 6.36 per cent,” said the regulator in a statement.

This marks the sixth time pump prices have risen since July last year, when the prices of super petrol and diesel in Nairobi stood at Sh97.1 and Sh84.46 respectively.

Poor households 

The price increase will have an immediate impact on the budgets of motorists and consumers, especially poor households that rely on kerosene for cooking and lighting.

It is also bound to increase costs for manufacturers, who largely use diesel for powering their operations, which in the long run will be transferred to consumers. Inflation has hit a four-and-a-half-year low despite an increase in the cost of essential goods and services.