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    Price of bread rises to Ksh55

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    Injustice 5 years on, haunts Safaricom killer director

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    Kenyan Passport among the most powerful in Africa

    Pesalink appoints Gituku Kirika as CEO

    Pesalink appoints Gituku Kirika as CEO

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Brace for harsh times as fuel pump price hikes

    Brace for harsh times as fuel pump price hikes

    6.5 million register new mobile money accounts in 2020 -CBK

    6.5 million register new mobile money accounts in 2020 -CBK

    KRA wins Kshs 105.6 million case against Mars Logistics Limited

    KRA wins Kshs 105.6 million case against Mars Logistics Limited

    Hospitality Industry Players Eyeing MICE for Business Revival

    Hospitality Industry Players Eyeing MICE for Business Revival

  • Markets
    Price of bread rises to Ksh55

    Price of bread rises to Ksh55

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Brace for harsh times as fuel pump price hikes

    Brace for harsh times as fuel pump price hikes

    6.5 million register new mobile money accounts in 2020 -CBK

    6.5 million register new mobile money accounts in 2020 -CBK

    KRA wins Kshs 105.6 million case against Mars Logistics Limited

    KRA wins Kshs 105.6 million case against Mars Logistics Limited

    Hospitality Industry Players Eyeing MICE for Business Revival

    Hospitality Industry Players Eyeing MICE for Business Revival

    SIB banks’ foreign investment arm records mild drop in returns

    SIB banks’ foreign investment arm records mild drop in returns

    45 year old Mutuku Wins Sportpesa Midweek Jackpot

    45 year old Mutuku Wins Sportpesa Midweek Jackpot

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    Emirates slashes air tickets for Kenyans

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    National Bank and Octagon ink 100 billion service partnership

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    Mizizi Africa Homes voted best low cost housing developer 2020

    Mizizi Africa Homes voted best low cost housing developer 2020

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    Cytonn Hands Over Phase III of Comprehensive-Lifestyle Project, The Alma

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    Kenyan Firm awarded Most Innovative Community Developer 

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    Pesalink appoints Gituku Kirika as CEO

    Pesalink appoints Gituku Kirika as CEO

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    Samsung Galaxy S21 is now out,pre orders open in Kenya

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    Government cancels appointments for passport applications

    Kenyan Passport among the most powerful in Africa

    ‘Beware of fake currency’, CBK Warns

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    6.5 million register new mobile money accounts in 2020 -CBK

    KRA wins Kshs 105.6 million case against Mars Logistics Limited

    KRA wins Kshs 105.6 million case against Mars Logistics Limited

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    • Agribusiness
    • Banking
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      6.5 million register new mobile money accounts in 2020 -CBK

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      SIB banks’ foreign investment arm records mild drop in returns

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      OPINION: Why Amina Mohammed’s Push to Head WTO is ill-timed

      OPINION: Why Amina Mohammed’s Push to Head WTO is ill-timed

Kenyan Business Feed
  • Home
  • News
    Price of bread rises to Ksh55

    Price of bread rises to Ksh55

    Injustice 5 years on, haunts Safaricom killer director

    Injustice 5 years on, haunts Safaricom killer director

    Government cancels appointments for passport applications

    Kenyan Passport among the most powerful in Africa

    Pesalink appoints Gituku Kirika as CEO

    Pesalink appoints Gituku Kirika as CEO

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Brace for harsh times as fuel pump price hikes

    Brace for harsh times as fuel pump price hikes

    6.5 million register new mobile money accounts in 2020 -CBK

    6.5 million register new mobile money accounts in 2020 -CBK

    KRA wins Kshs 105.6 million case against Mars Logistics Limited

    KRA wins Kshs 105.6 million case against Mars Logistics Limited

    Hospitality Industry Players Eyeing MICE for Business Revival

    Hospitality Industry Players Eyeing MICE for Business Revival

  • Markets
    Price of bread rises to Ksh55

    Price of bread rises to Ksh55

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Brace for harsh times as fuel pump price hikes

    Brace for harsh times as fuel pump price hikes

    6.5 million register new mobile money accounts in 2020 -CBK

    6.5 million register new mobile money accounts in 2020 -CBK

    KRA wins Kshs 105.6 million case against Mars Logistics Limited

    KRA wins Kshs 105.6 million case against Mars Logistics Limited

    Hospitality Industry Players Eyeing MICE for Business Revival

    Hospitality Industry Players Eyeing MICE for Business Revival

    SIB banks’ foreign investment arm records mild drop in returns

    SIB banks’ foreign investment arm records mild drop in returns

    45 year old Mutuku Wins Sportpesa Midweek Jackpot

    45 year old Mutuku Wins Sportpesa Midweek Jackpot

    Emirates slashes air tickets for Kenyans

    Emirates slashes air tickets for Kenyans

  • Real Estate
    National Bank and Octagon ink 100 billion service partnership

    National Bank and Octagon ink 100 billion service partnership

    Real Estate: Cytonn invites bids for this 4 acre piece of prime land in Kilimani

    Mizizi Africa Homes voted best low cost housing developer 2020

    Mizizi Africa Homes voted best low cost housing developer 2020

    Cytonn Hands Over Phase III of Comprehensive-Lifestyle Project, The Alma

    Cytonn Hands Over Phase III of Comprehensive-Lifestyle Project, The Alma

    32% of Kenyans to change houses over Covid-19

    32% of Kenyans to change houses over Covid-19

    Kenyan Firm awarded Most Innovative Community Developer 

    Cytonn Real Estate completes The Alma Phase 3; 120 units set for handover

    Serviced Apartments Record Decline in Rental Yields

    Serviced Apartments Record Decline in Rental Yields

    Moad Capital, leading the homes of the future

    Moad Capital, leading the homes of the future

    Mount Kenya region has lucrative retail rental yield – Cytonn

  • Tech
    Pesalink appoints Gituku Kirika as CEO

    Pesalink appoints Gituku Kirika as CEO

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    realme C12 and 7i now Available In Kenya

    2021: realme to release more smartphone in Kenya

    Samsung banking on technology personalisation to increase market share

    Samsung banking on technology personalisation to increase market share

    Cellulant CEO Ken Njoroge to step down in 2021

    Millions Abandon Whatsapp over new Contentious Policy, Signal, Telegram record growth

    Millions Abandon Whatsapp over new Contentious Policy, Signal, Telegram record growth

    Whatsapp to block users this February following new policy

    Whatsapp to block users this February following new policy

    Tough times ahead as taxis set to increase fares

    Tough times ahead as taxis set to increase fares

    vivo V20 now in Kenya, with 44MP selfie Camera

    vivo V20 now in Kenya, with 44MP selfie Camera

  • World Business

    Twitter CEO finally breaks silence about banning US President Donald Trump from the platform

    Millions Abandon Whatsapp over new Contentious Policy, Signal, Telegram record growth

    Millions Abandon Whatsapp over new Contentious Policy, Signal, Telegram record growth

    Trump threatens to slash US funding to World Health Organization

    A year later, WHO still insists on visiting China to probe virus origin

    F1 superstar to miss Sakhir GP after testing positive for coronavirus – Statement

    F1 superstar to miss Sakhir GP after testing positive for coronavirus – Statement

    Boeing’s 737 Max Cleared to Fly in the US After Crashes

    Boeing’s 737 Max Cleared to Fly in the US After Crashes

    Guinness forced to recall contaminated brand

    Guinness forced to recall contaminated brand

    WTA Names Kenya as Africa’s Leading Tourist Destination 2020

    WTA Names Kenya as Africa’s Leading Tourist Destination 2020

    United States: Close Contest as Trump Declares himself Winner

    United States: Close Contest as Trump Declares himself Winner

    Terror group Al-Shabaab collects almost as much tax as the Somalia government – Report

    Terror group Al-Shabaab collects almost as much tax as the Somalia government – Report

  • KBF
    • All
    • Agribusiness
    • Banking
    • Insurance
    • Manufacturing
    • Opinion
    Government cancels appointments for passport applications

    Kenyan Passport among the most powerful in Africa

    ‘Beware of fake currency’, CBK Warns

    Diaspora remittances rose by 11 per cent to Sh341 billion in 2020 – CBK

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Brace for harsh times as fuel pump price hikes

    Brace for harsh times as fuel pump price hikes

    6.5 million register new mobile money accounts in 2020 -CBK

    6.5 million register new mobile money accounts in 2020 -CBK

    KRA wins Kshs 105.6 million case against Mars Logistics Limited

    KRA wins Kshs 105.6 million case against Mars Logistics Limited

    Hospitality Industry Players Eyeing MICE for Business Revival

    Hospitality Industry Players Eyeing MICE for Business Revival

    SIB banks’ foreign investment arm records mild drop in returns

    SIB banks’ foreign investment arm records mild drop in returns

    45 year old Mutuku Wins Sportpesa Midweek Jackpot

    45 year old Mutuku Wins Sportpesa Midweek Jackpot

    • Agribusiness
    • Banking
      ‘Beware of fake currency’, CBK Warns

      Diaspora remittances rose by 11 per cent to Sh341 billion in 2020 – CBK

      6.5 million register new mobile money accounts in 2020 -CBK

      6.5 million register new mobile money accounts in 2020 -CBK

      SIB banks’ foreign investment arm records mild drop in returns

      SIB banks’ foreign investment arm records mild drop in returns

      DTB issues profit warning

      DTB issues profit warning

      How to join, get a loan from Metropolitan Sacco

      Stanbic Bank systems down over Christmas period

      Equity Restructures Ksh92 Billion Loans To cushion Customers Against COVID-19

      Equity Becomes first bank in Eastern and Central Africa to achieve trillion-shilling balance sheet

      Equity Group Appoints Christopher Newson as Non-Executive Director

      Equity Group Appoints Christopher Newson as Non-Executive Director

      How To Get Advance Salary Loan Via Co-operative Bank On Your Phone

      Co-operative Bank Launches Global Money Transfer Service

    • Insurance
      ICEA Lion Life appoints a new CEO

      ICEA Lion Life appoints a new CEO

      Exposed: Insurance Company on The Spot for Fruatrating clients

      Exposed: Insurance Company on The Spot for Fruatrating clients

      Octagon feted in 2020 World Pension Summit Innovation Awards

      Octagon feted in 2020 World Pension Summit Innovation Awards

      What do you need to know before purchasing car insurance?

      What do you need to know before purchasing car insurance?

      National Bank of Kenya Bags Global Recognition

      National Bank of Kenya Bags Global Recognition

      DIB Awarded Best Islamic Bank in Kenya

      DIB Awarded Best Islamic Bank in Kenya

      Insurance: IRA Foils Over Ksh300 Million Fraudulent Claims

      20 out of 56 licensed insurers in Kenya fail capital test

      Tom Gitogo offloads his shares in CIC Insurance

      Tom Gitogo offloads his shares in CIC Insurance

      KCB appoints new Director of Marketing and Communications

      KCB appoints new Director of Marketing and Communications

    • Manufacturing
    • Opinion
      OPINION: Managing the end-of-life of products to accelerate a circular economy in Kenya

      OPINION: Managing the end-of-life of products to accelerate a circular economy in Kenya

      Why Digital Services Tax is a retrogressive policy

      Why Digital Services Tax is a retrogressive policy

      How Citizen TV Became The Most Watched in Kenya

      How Citizen TV Became The Most Watched in Kenya

      This is the new Safaricom logo

      Fail or win? Mixed Reactions over Safaricom’s new logo

      After fuliza, Safaricom introduces another way to borrow money

      OPINION: Why Safaricom’s Fuliza is a rip off!

      OPINION: Conserve Nature Even as you Work to Achieve SDGs

      OPINION: Conserve Nature Even as you Work to Achieve SDGs

      Crisis as young Kenyans now embrace Crime as lifestyle

      Crisis as young Kenyans now embrace Crime as lifestyle

      Employment Exit Strategy: The smart way to leave job for entrepreneurship.

      Employment Exit Strategy: The smart way to leave job for entrepreneurship.

      OPINION: Why Amina Mohammed’s Push to Head WTO is ill-timed

      OPINION: Why Amina Mohammed’s Push to Head WTO is ill-timed

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Fuel prices rise significantly in latest price review

by Kenyan Business Feed
May 14, 2019
in KBF
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Motorists will from midnight, Wednesday incur additional charges at the pump, this as the Energy and Petroleum Regulatory Authority (EPRA) moves to impact increments to the maximum retail prices for petroleum.

The regulator has in its mid-month review adjusted costs for all three petroleum commodities by an average Ksh.5.43, Ksh.2.24 and Ksh.2.40 for petrol, diesel and kerosene respectively.

The notable surge in fuel prices has been attributed mainly to a combination of increased landing costs for refined fuel as international crude prices remain on the rise and a weakened shilling during the March/April import window.

Brent Crude which makes for the petroleum gold standard has for instance remained northwards of Ksh.7,000 per barrel (USD 70) since early April having risen from a low Ksh.5,380 (USD 53.80) at the start of the year.

The weighted cost from the review will see petrol trade at Ksh.112.03 per liter in Nairobi while diesel and kerosene will retail at Ksh.104.37 and Ksh.104.62 for every liter respectively.

The latest price adjustment by EPRA is reflective of a continued hike to international crude prices with the regulator having made a near similar review on all three petroleum commodities during the last review on the 14th of April.

The compounded increase of fuel prices is likely to bear a significant impact on fuel-induced inflationary pressures with the current value of the consumer price index pegged measure standing at an 18-month high of 6.56 percent.

The international commodities market which plays a significant role in the determination of petroleum prices locally meanwhile remains characterized by uncertainties defined by an interplay of ongoing trade disputes and planned production cuts.

While fore-planned production cuts by the oil exporters under the Organization of Petroleum Exporting Countries (OPEC) cartel would have assured of hiked petroleum prices at the world stage in 2019 , the re-awoken trade spat between the United States and China has eaten into gains by oil producers.

Escalating tensions in the middle East pitting among others two of the key oil producers in Saudi Arabia and Iran are however likely to extinguish any pricing recourse as the emerging conflict threatens the global supply of the precious commodity.

The global benchmark in Brent Crude has for instance eased to reflect on the jitters to trade at an average Ksh.7,023 (USD 70.23) per barrel as of May 14 from a week high of Ksh.7,248 (USD 72.48).

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Kenyan Business Feed is the top Kenyan Business Blog. We share news from Kenya and across the region. To contact us with any alert, please email us to [email protected]

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