Energy CS Davis Chirchir has indicated that the price of Super Petrol is likely to increase to Sh300 during the upcoming fuel price review by the Energy and Petroleum Regulatory Authority. Currently, petrol is being sold at Sh217 per liter in Nairobi. The anticipated increase in fuel prices is attributed to the ongoing conflict between Israel and Hamas. CS Chirchir mentioned that international fuel prices could potentially reach $150 per barrel, which may translate to petrol prices reaching Sh300 per liter at the pump. This statement was made during his presentation before the National Dialogue committee at Bomas of Kenya on Monday.
In mid-October, Kenya’s Energy and Petroleum Regulatory Authority had already announced a record-high fuel price revision, leading to the current retail price of Sh217 per liter. This increase in fuel prices has had a ripple effect on the prices of various other commodities, causing concerns about the rising cost of living in Kenya.
The surge in fuel prices is a part of a global trend, exacerbated by various factors, including the Israel-Gaza conflict and previous disruptions caused by the Russian invasion of Ukraine. These global events have created supply chain disruptions and contributed to the overall increase in fuel prices, affecting countries like Kenya.