CS Chirchir: Price of Super Petrol likely to rise to Sh300
Petrol prices are currently retailing at Sh217 in Nairobi.
Super Petrol's price is likely to rise to Sh300 in the forthcoming Energy and Petroleum Regulatory Authority petrol price review.
In Nairobi, the current retail price of petrol is Sh217.
According to Energy Chief CS Davis Chirchir, the fighting between Israel and Hamas is the reason for the surge.
“The international prices of fuel could go up to 150 dollars. This would literally mean our petroleum prices could go up to Sh300 per litre at the Pump. We hope it will not get there,” he said.
On Monday, at Bomas of Kenya, he was delivering a speech in front of the National Dialogue committee.
The Energy and Petroleum Regulatory Authority of Kenya reported in the middle of October that fuel prices had been revised to the highest level in the nation's history, with a litre of petrol now retailing for Sh217.
The rising cost of fuel in turn caused the prices of other items to rise, a development that infuriated residents who bemoaned the high expense of living.
Cost increases that have been attributed to the worldwide gasoline shortage situation have been felt in Kenya and South Africa.
Cost increases that have been attributed to the worldwide gasoline shortage situation have been felt in Kenya and South Africa.
SMEs pay Sh29.00 per unit, commercial and industrial customers pay Sh25.00 per unit, and home customers currently pay an average of Sh 28 per unit for power.
As per the World Bank's most recent Commodity Markets Outlook, the Russian invasion of Ukraine produced significant disruptions, which in turn led to the Israel-Gaza conflict.
Kenya was one of the nations primarily affected by the Russia-Ukraine war on grain supplies; now that it is importing goods from the Middle East, the country is exposed to high fuel prices as a result of the Israel-Gaza conflict.