By James Macharia
Kenyans on Wednesday midnight are expected to brace for the highest fuel prices in the recent history after a price review conducted by the Energy and Petroleum Regulatory Authority (EPRA) on Crude oil.
This comes at a time Kenya is facing the unforgiving woes of Covid-19 third wave.
Petrol will rise by Sh.4.30 and a litre will go for Sh127.11 in Nairobi.
A litre of diesel will be sold at Sh109.96 from the previous price of Sh107.66.
Upon the monthly prices review by the authority, petrol prices will have shot by Sh20.12 a litre over the last three months while diesel by Sh13.56 over the same period.
On the borders of Kenya and Tanzania and Uganda, Kenyans are seeking for the options available to them; going for cheaper fuels in the neighboring countries.
Kenyans have expressed anger and uproar over the hiking of fule prices, as the cost of living will similarly shoot, dealing a blow in their livelihoods as the Covid-19 pandemic continue to make life harder for kenyans.
However, EPRA has attributed the skyrocketing fuel prices to the recovery in crude oil prices.
The prices are as a result of pump prices based on the barrel at 61.61dollars,from the previous 55.27dollars and now 65.41dollars for the review that kicks off midnight.
The Treasury is required by law to table the Finance Bill, which is the legal instrument that both Treasury and parliament use to introduce new taxes or scrap off others, before April 30.
Thereafter, the president will approve it by June 30.
Producers of electricity and manufactured goods are also expected to factor in the higher cost of petroleum.
As many Kenyans rely on Kerosene and gas for lighting and cooking, crude oil price is a determinant of the rate of inflation.