Kenyans will be hit hard as prices of commodities is set to increase after the energy regulatory commission announced a hike in the cost of fuel.
According to prices released on Tuesday, the price of one litre of petrol will increase by Sh5.43, diesel and kerosene Sh2.24 and Sh2.40, respectively.
This hike will obviously lead to an increase in the cost of production leading to higher prices of commodities.
Many Kenyans also depend on kerosene and will now be forced to shoulder a bigger burden.In its monthly review on March 15, ERC had also increased the prices by Sh1.26, Sh0.65 and Sh2.96 for petrol, kerosene and diesel.
ERC said the increase was due to weighted average cost of imported refined petroleum products.
“Taking into account the weighted average cost of imported refined petroleum products, the average cost of imported super petrol increasing by 3.71 %, diesel increasing by 2.79 % and Kerosene increasing by 9.16 %,” said Robert Pavel Oimeke, ERC’s director general.
Motorists, who will be affected by this month’s review, ensure that there push the new burden to passengers by hiking the fare.
This means at the end of the day, all the burden is shouldered by Kenyans.