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Kenyan Motorists to spend more on fuel
The adjustment will take effect tonight and runs for a month when ERC reviews the price. Last month ERC adjusted prices of petrol, diesel and kerosene by Sh5.25, Sh5.52 and Sh2.76 per liter respectively.
Motorists across the country will pay more for petrol after the Energy Regulatory Commission (ERC) Tuesday increased price of Super Petrol by Sh 5.
In Nairobi, super petrol will be retailing at Sh5 more while diesel and Kerosene increase by Sh2.24 and Sh2.40 per litre respectively.
This is the third straight month such increases have been witnessed rise in the international oil prices that have been hovering.
International rates of fuels ordinarily follows the crude price trend – which tumbled to under USD72 a barrel from slightly over USD86 in October 2018. Such reverse adjustments on global crude oil prices generally determine local fuel rates.
Other factors such unstable shilling against major world currencies could also explain the rises in the petroleum prices with the trend, should it sustain, is expected to hurt more consumers presently struggling to spend on other goods and services.