Kenyans should brace themselves for tough times ahead after the Energy and Regulatory Commission (ERC) announced an increase in fuel prices.
In the new review that becomes effective on Sunday midnight, the price of super petrol has gone up by 5.25 shillings on every litre.
The price of Diesel and Kerosene has gone up by 5.25 and 2.76 shillings on every litre respectively.
The Inflation Rate
The increase in the recent fuel prices is likely to lead to the rise in the inflation rate.
Inflation rate in Kenya is often anchored on the prices of food, other consumables and the cost of transport.
The manufacturing sector mostly rely on diesel-powered generators for power and with the increase in the price of diesel, the cost of production will also go up.
Kenyans are also likely to pay more for transport costs in terms of fare as PSV owners take the advantage to hike fare as a result.
The recent increase in fuel prices reflects what is going on globally with most countries including Tunisia having reviewed their prices upwards.
The prices of crude oil around the world have also spiked with analysts saying the prices might not come down soon.
