Motorists brace up as Fuel prices shoot up

Motorists for the next one month to feel the ‘pinch’ as fuel prices go up.

 

Motorists in Nairobi will for the next one month will the ‘pinch’ as fuel prices go up. In the latest monthly price review by the Energy Regulatory Commission (ERC).

Car owners will have to buy a litre of petrol with Ksh94.94, ksh3.38 more compared to last month where a litre used to retail at Ksh91.56 more due to rising global prices.

Truck, buses and tractors drivers are not exempted either, they will buy a litre of diesel by ksh0.05 more buying the crude commodity at ksh82.17 a litre.

Kenya is a net importer oil and therefore is at the mercy of international prices which fluctuates from time to time.

Whenever the country wishes to import petroleum stock it has to do with a lag of 30 to 45 days from when it places a supply order to delivery of the stock.

Therefore the new prices is a reflection of September – October international prices.

“September-October crude prices went up so did the landed costs,” said ERC acting director of petroleum Edward Kinyua in a statement, released to media houses (Business daily).

Kenya on a monthly basis consumes an average of 130 million litres of petrol.

Diesel consumption is slightly higher and stands at an average 200 million litres per month.

Therefore with this consummation rate, the new price increment will cost Kenyans about ksh449 million in the month of December 14 until the energy commission review prices again.

Low income households in Kenya who depend on Kerosene for lighting and cooking will especially feel the pinch as Kerosene is up by Ksh3.45 and now retails at Ksh62.16 a litre in Nairobi.

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