Fuel price increase attributed to rise in import cost

The Energy and Petroleum Regulatory Authority (EPRA) has attributed the rise in fuel prices to an increase in the landed cost of fuel imports which has seen petrol and diesel costs rise by Sh. 11.38 and Sh. 17.30 respectively and Kerosine costs move up by Sh. 2.98.

“The changes in this month’s prices are as a result of the average landed cost of imported super petrol increasing by 12.64 percent in June and diesel increasing by 32.16 percent,” noted EPRA in a statement Tuesday.

The rise in global oil prices is indicative of the continued recovery of crude prices as the demand for oil returns from a lift to Covid-19 restrictions across the globe.

The change in fuel costs is further expected to impact on the average Kenyan as it triggers a rise in consumer prices- a pick up in the inflation rate.