It will get worse: Why fuel prices will keep increasing – Government
Kenya’s Trade Cabinet Secretary, Moses Kuria, has issued a warning to the public, stating that the price of fuel is expected to continue rising every month.
Kuria urged citizens to prepare for higher fuel costs, emphasizing that prices will unlikely decrease anytime soon.
Former Gatundu North MP Kuria explained that fuel prices in the country are set to increase by at least Ksh 10 every month until February 2024 due to the upward trajectory of global crude oil prices.
“Global Crude Prices are on an upward trajectory. For planning purposes, expect pump prices to go up by Ksh 10 every month until February,” Kuria posted on his official social media account.
Kuria’s statement comes shortly after the Energy and Petroleum Regulatory Authority (EPRA) announced an increase in fuel prices. According to EPRA, the latest price adjustments result from the weighted average cost of imported refined petroleum products.
The recent changes mean that Super Petrol in Nairobi retails at Ksh 211.64 per litre, Diesel at Ksh 200.99, and Kerosene at Ksh 202.61 per litre.
In Mombasa County, Super Petrol is priced at Ksh 208.58, Diesel at Ksh 197.93, and Kerosene at Ksh 199.54. In Kisumu County, Super Petrol is Ksh 211.40, Diesel Ksh 201.16, and Kerosene Ksh 202.77 per litre.
EPRA explained that without intervention to stabilize prices, petrol could have been sold at an unprecedented Ksh 201.1 per litre, diesel at Ksh 183.26, and kerosene at Ksh 175.22 per litre.
With fuel costs on the rise, transport operators and factories may be forced to pass on higher expenses to consumers, adding to the economic challenges faced by many amid the high cost of living.
The Matatu Owners Association (MOA) is already considering fare increases nationwide in response to the increasing fuel prices.
The public will need to adjust their budgets accordingly as they brace for potentially higher fuel expenses in the coming months.