The Consumer Federation of Kenya (Cofek) has raised concerns on the high cost of fuel, saying it will negatively impact consumers who are already battling high costs of goods and services.
Cofek Secretary General Stephen Mutoro has noted that the hike will ripple effect on the prices of electricity, transport, food, and health, among others.
“Our attention is drawn to the hike by the Energy and Petroleum Regulatory Authority (EPRA) on May 14, 2023 in which a litre of petrol is retailing at Kes182.70 in Nairobi,” Mutoro said.
Mutoro noted that while the Body does not support long-term subsidies, the steep fuel price rise will worsen the already bad economic outlook.
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“Costs of electricity, transport, food, health and education services will go up. Consumer spending will shrink and production will plummet to the detriment of the entire economy. People will be required to spend more while earning less.”
On Monday, 15, EPRA increased prices for super, diesel, and kerosene in Nairobi by Kes3.40, Kes6.40, and Kes15.19, respectively.
This means that motorists in the city will have to fork out Kes182.7 for petrol, Kes168.4 for diesel, and Kes 161.13 for kerosene.
EPRA attributed the high prices to a rise in the average landed cost of imported super petrol, which has moved up by 8.63 per cent in one month.
