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The Energy and Petroleum Regulatory Authority (EPRA) on Tuesday, May 14, announced new fuel prices which came into effect on Tuesday midnight.
The authority increased the cost of petrol, diesel and kerosene by KSh 5.43, KSh 2.24 and KSh 2.40 per litre respectively.
READ ALSO: Petrol, kerosene prices soar in latest review by energy regulator
The cost of kerosene have increased by KSh 7.63, diesel KSh 8.31 and super petrol KSh 8.31 per litre in the past three months. Photo: Kahawa Tungu.
Source: UGC
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Super petrol now retails at KSh 112.03, diesel KSh. 104.37 and kerosene KSh 104.62 per litter in Nairobi as per the regulator’s May 2019 price review.
The pump prices have risen steadily in the past three months during which the cost of kerosene have increased by KSh 7.63, diesel KSh 8.31 and super petrol KSh 8.31 per litre.
READ ALSO: ERC revokes license of independent oil importers leading fuel boycott over new tax
Kenyans had already started feeling the pinch and that can be explained by the soaring rate of inflation, a sustained increase in the general price of goods and services over a period of time.
Inflation rate rose to 6.58% in April, up from 4.35% in March and 4.14% in February 2019 going by the Central Bank of Kenya (CBK) data.
READ ALSO: Little Cab announces pay adjustments as 16% fuel tax takes effect
The latest increase in fuel prices is expected to equally push up the cost of services such as transport and basic commodities including food items such as unga (corn flour), milk, sugar and bread owing to increase in cost of production of these goods.
This is because the manufactures of the said food items would most likely be forced to pass over to the consumers the additional cost of production.
READ ALSO: Stop shedding crocodile tears over inflated fuel prices – Moses Kuria tells protesting MPs
With the prices of goods and services continuously on the rise, the rate of inflation in the month of May 2019 may also soar, which basically means the cost of living will be much higher in May compared to the past few months.
Kenyans Angry after Uhuru and Raila go to China for new loan – On Tuko TV
Source: Tuko.co.ke
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