The latest increase in petroleum prices is already prompting warnings from transport operators and manufacturers, raising the prospect of higher fares A fuel attendant at a petrol station in Nairobi /LEAH MUKANGAI A fuel attendant at a petrol station in Nairobi /LEAH MUKANGAI Kenyan households and businesses face renewed financial pressure as rising fuel prices, extreme weather predictions and political activity threaten to drive up the cost of living in the coming months.
The latest increase in petroleum prices is already prompting warnings from transport operators and manufacturers, raising the prospect of higher fares, production costs and prices of essential goods. This is coming at a time when many households are struggling with stagnant incomes and shrinking purchasing power.
The Energy and Petroleum Regulatory Authority (EPRA) on Wednesday raised the maximum pump prices of super petrol, diesel and kerosene by Sh12.93, Sh9.90 and Sh28.49 per litre, respectively, for the October 15 to November 14 pricing cycle. A litre of super petrol in Nairobi now costs Sh226.96, diesel Sh227.76 and kerosene Sh219.87, further squeezing motorists, public transport operators and households that rely on kerosene for cooking and lighting.
The increases come as global oil markets grapple with escalating tensions in the Middle East, exposing Kenya’s vulnerability as a net importer of refined petroleum products. The beginning of winter in Europe and other Western markets could add to demand for diesel and kerosene, potentially prolonging pressure on international prices.
EPRA Director-General Edward Kinyua said September recorded the highest fuel import costs since the Middle East crisis began. The average landed cost of imported super petrol increased by 11.81 per cent, from $874.26 per cubic metre in August to $977.55 in September, while diesel costs rose by 11.2 per cent.