The price of Super Petrol is likely to rise to Sh300 in the coming Energy and Petroleum Regulatory Authority (EPRA) fuel price review.
Petrol prices are currently retailing at Sh217 in Nairobi.
Energy Cabinet Secretary (CS ) Davis Chirchir said the increase will be occasioned by the war between Israel and Hamas.
“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.
He was speaking when he made submissions before the National Dialogue committee at Bomas of Kenya on Monday, November 6th, 2023.
Kenya’s Energy and Petroleum Regulatory Authority announced in mid-October a revised price of fuel to a record high in the history of the country, with a litre of petrol now retailing at Sh217.
The increased fuel prices in turn led to an increase in prices of other commodities, a move that aroused various ridicule from citizens who complained of the high cost of living.
Kenya and South Africa have been facing cost influx which has been attributed to being a result of the global fuel increment crisis.
The current average cost of power to domestic customer is Sh 28 per unit, while for SMEs the cost is Sh29.00 per unit and for Commercial and Industrial customer the cost is Sh25.00 per unit.
According to the World bank’s latest Commodity Markets Outlook, the Israel-Gaza conflict comes on top of disruptions caused by the Russian invasion of Ukraine, which had major implications in commodity prices on the back of disruptions in the global supply chain.