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More Pain as EPRA Announces Record Increase in Fuel Prices

The prices of petrol, diesel and kerosene have gone up by KSh 9.9 in the latest review by the Energy Petroleum Regulatory Authority.

This means in Nairobi, a litre of petrol will retail at KSh144.62 a litre up from Sh134.72.

Diesel at KSh125.5 up from KSh115.6 while kerosene has also shot up to KSh113.55 per litre.

The new prices will take effect at midnight.

The latest price reviews comes at a time when motorists are grappling with long queues at filling stations amid hoarding rumours.

On Thursday, Cabinet Secretary Monica Juma accused a section of oil marketers of hoarding fuel, culminating to the current ‘artificial’ shortage.

CS Juma further asked players unwilling to supply fuel to exit the Kenyan market altogether.

“The country has sufficient fuel stocks. We have determined that some players are hoarding fuel with hopes that a review in prices will provide them with a financial windfall,” she said.

“This government will not tolerate any entity or person causing distress or creating an artificial problem. Any entity not ready, able or willing to work within the framework of the laws of Kenya is invited to vacate this market promptly,” she added.

READ ALSO: BasiGo: Kenyan vehicle Startup Launches KSh 5 Million Electric Bus

The fuel price hike is likely to spur an increase in prices of common goods due to higher transport costs.

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