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Worrying sign as ERC raises fuel prices
The new prices are set to take effect tomorrow, March 15 till April 15, 2019, when the regulator will strike with new prices for the commodity.
Fuel prices rose on Thursday night in a session of volatile trade, pressured by concerns of sliding international oil prices that have been falling since October 2018.
The latest monthly review by Energy Regulatory Commission (ERC) will see the cost of Super Petrol go up by Sh1.26, Diesel increase by Sh0.65 and Kerosene up by Sh2.96 per litre in new price reviews.
Motorists in Nairobi were last month paying Sh100.09 for a litre of petrol before the latest changes were announced hours ago, down from Sh104.21 a month earlier and Sh113.54 they had been paying since December 14 – marking a halt into the three-month low streak that had been seen until today.
Ironically the increase in these prices comes despite stability in shilling against major world currencies, meaning consumers will be forced to spend more on other goods and services in the coming weeks – with the increases predicted to sustain.