Pain at the pump as fuel prices rise

Written By: Michael Njuguna/Regina Manyara-Gitau


The cost of fuel has been increased for the third month in a row with those who use kerosene the hardest hit in the latest monthly review by the Energy Regulatory Commission.

Effective midnight, a liter of Kerosene which is widely used by many households will go up by 5.05 shillings and five cents, a liter of super petrol increases by one shilling and three cents while diesel was increased by three shillings and 70 cents.

Fuel will be cheapest in Mombasa where a liter of Super Petrol will retail at 99.42 shillings, diesel at 89.13 shillings and kerosene at 68.46 shillings.

Fuel will be most expensive in Mandera where a liter of Super Petrol will retail at 116.42 shillings, Diesel at 106.21 shillings and kerosene at 85.04 shillings.

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ERC has attributed the increase in prices to an overall increase in the landed cost of super petrol, diesel and kerosene.

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The landed cost of super petrol, diesel and kerosene are reported to have increased by 1.42, 6.31 and 8.12 percent respectively between September and October.

Effective midnight, Nairobi residents will purchase a liter of super petrol at a retail cost of  101.67 shillings, diesel at 88.71 shillings and kerosene at 66.18 shillings. While the maximum pump price of super petrol in Mombasa will go for 98.39 shillings, 85.44 shillings per liter of diesel, and 63.42 shillings for Kerosene.

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In Kisumu, the price of super petrol has been capped at 103.64 shillings, diesel at 90.89 shillings and kerosene at 68.11 shillings respectively.

The commission further attributed the increase of fuels cost to appreciation of the mean monthly US Dollar to Kenya Shilling exchange rate appreciated by 0.24 per cent from Sh103.37 to Sh103.12 in September.

Elsewhere, the government has assured Kenyans that there is enough subsidized maize in the country to keep maize flour prices at the current low prices until the end of the year.

Agriculture Cabinet Secretary Willy Bett   said the last batch of maize imported for the subsidy programme is being off loaded at the Port of Mombasa.

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However the cabinet secretary says officials are experiencing challenges offloading the 1.1 million bags of maize due to rains.

Finally the cost firms incur to list their shares on the Nairobi Securities Exchange could be reduced if the National

Treasury adopts the proposed capital markets policy in its current form. The policy also proposes preferential corporate tax for listed firms as well as privatization of more state owned enterprises.

CMA Regulatory Policy and Strategy Director Luke Ombara says the proposed policy seeks to encourage more companies to list.

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