Residents of Kisumu will have to dig deeper into their pockets from mid May to mid June as oil prices shoot up following the review of oil prices by the Energy Regulatory Commission (ERC).
According to the new prices, the price of super petrol was increased by Sh3.5.
On the other hand, the new pump price of diesel will go up by Sh4.14 while that of kerosene rose up by Sh3.02.
In view of these new prices, Kisumu residents will pay Sh86.24 for a litre of super petrol while those who rely on kerosene for cooking and lighting will pay Sh48.88 for a litre of the product.
According to the Commission, the increase in the prices of oil in this latest review is attributed to an increase in oil prices in the International Market.
The Commission says the price of oil per barrel rose from Sh2,900 in January to the current price of Sh4,700.
The ERC further said the cost of importing super petrol increased by 13.29 per cent while the cost of importing diesel rose by 16.06 per cent.
Further, the cost of importing kerosene increased by 9.62 per cent.
This announcement will not be good news for the residents of Kisumu who have enjoyed a long run of dropping oil prices as the cost of other industrial goods is set to rise as a result of increased cost of production.
The new prices became effective as from May 14, and will run for the next one month to June 14, where another review will be done paving way for new prices.