Fuel Price Hike: Impact on Kenyans
The Energy and Petroleum Regulatory Authority (EPRA) revised fuel prices between May 14 and June 14 on Sunday, May 14.
The price per liter of super petrol, diesel, and kerosene increased by Ksh3.40, Ksh6.40, and Ksh15.19, respectively.
The increased prices are anticipated to harm key economic sectors. And raise the cost of living.
Four areas will be negatively impacted by the price increase. According to GossipA2Z.
Consumer products
Numerous industries in Kenya rely on diesel for production, and as diesel prices rise, so will the cost of production.
This will result in increased prices for the consumer.
Maize flour, milk, and bread are some of the major consumer goods. Whose prices are anticipated to rise.
Motorists
After the increase in fuel prices, car owners will have to dig deeper into their wallets.
ALSO READ: EPRA Announces Fuel Price Hike for May – June 2023
The Matatu industry has suffered a double blow as a result of the government’s increase in fuel tax from 8% to 16%.
On Sunday, May 7, matatu owners announced they would raise fares in response to the increase in taxes.
Simon Kimutai, chairman of the Matatu Owners Association, stated. “We are well aware that for goods to reach consumers. They must be transported, so the prices of all goods will rise.”
Now that fuel prices have increased, fare increases are inevitable.
Commuters
The increased fare prices will harm commuters who are already struggling with a high cost of living.
This will have a significant impact on urban Kenyans who commute daily to work and rely on the public transportation system.
Kerosene
After EPRA announced the removal of the subsidy instituted by former President Uhuru Kenyatta’s administration, the price of kerosene increased by the greatest amount, Ksh15.19.
According to the Kenya National Bureau of Statistics (KNBS), approximately 70% of Kenyans continue to use kerosene lamps for illumination.
According to the Kenya Cooking Sector Report (2022), 1,7 million households in Kenya use kerosene for cooking.
Consequently, millions of Kenyans will be impacted. By the drastic increase in kerosene prices.
Fuel Price Hike: Impact on Kenyans
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