The price of petrol has hit an all-time high in the country in the latest review announced by the Energy Petroleum Regulatory Authority (EPRA).
In a statement on Tuesday, EPRA released new pump prices where the price of Super petrol has been increased by Ksh7.58 per litre.
On the other hand, the cost of diesel and kerosene has also been increased by Ksh.7.94 and Ksh.12.97 per litre respectively.
In Nairobi, a litre of super petrol is set to cost Ksh.134.72 an increase from Ksh.127.14. Diesel will retail at Ksh.115.60 from Ksh.107.66 while kerosene will for Ksh.110.82 from Ksh.97.85.
Explaining the rationale behind the increased pump prices, EPRA noted that the upward review was as a result of higher costs for landed petroleum products.
Vehicle being fueled at a filling station.| Photo| Courtesy|
For the past few months, fuel prices had remained constant across the country after the government moved to cushion Kenyans from an upward review.
The government set in place a fund known as the fuel stabilization fund that ensured that fuel prices remained constant regardless of any upward review by EPRA.
Reports indicate that due to lack of funding by the National Treasury, the fuel stabilization fund was unable to chip in, therefore forcing EPRA to announce the new prices, thus the steep increase.
The increased fuel prices come at a time when Kenyans are still battling the negative effects of the Covid-19 pandemic including loss of jobs and increased cost of living.