KENYANS BRACE THEMSELVES FOR TOUGH TIMES AS FUEL PRICES SHOOT UP

Anxiety and frustrations continue to rise among Kenyan motorists. This comes as a result of the increase in fuel prices in the country. On Wednesday, petrol prices went past the 130 ksh mark.

EPRA (Energy and Petroleum Regulation Authority), in its pump price review, increased the price of super petrol by ksh 7.58 per litre. On the other hand, diesel and kerosene increased by Ksh.7.94 and Ksh.12.97 per litre respectively from Wednesday midnight.

A litre of petrol in the city now goes for Ksh.134.72 rising from Ksh.127.14. Diesel prices have spiked to Ksh.115.60 from Ksh.107.66 while kerosene increased from Ksh.110.82 from Ksh.97.85.

According to EPRA, the reason behind the fuel price is due to the fact that the fuel price stabilization fund has run out reserves prompting the authority to hike the prices. The fund, which was partly run by the National Treasury, provides respite to consumers by lowering the margins paid to suppliers/oil marketers who are then compensated by the exchequer.

Due to lack of funding, EPRA has been left with no choice but to reinstate all of the margins resulting in the significant hike in fuel prices.

For suppliers of petrol, margins have rose to Ksh.12.39 from Ksh.5.29, while the margins for diesel suppliers have increased to Ksh.12.36 from Ksh.2.49.