Motorists, farmers hit by rising fuel prices

Motorists, farmers hit by rising fuel prices
  • Diesel pump price yesterday hit a two-year high, a price hike that is expected to trickle down to consumers
  • Diesel rose by Sh1.17 per liter while petrol and kerosene rose marginally by Sh0.78 and Sh0.77 per liter respectively
  • The Energy Regulatory Commission (ERC) attributes the hike in prices to averagely landed cost of importation recorded in the month of February 2017

Motorists and farmers across the country are set to continue bearing the burden of rising fuel costs after diesel prices jumped in the latest fuel price review.

Diesel, which is used to fuel Passenger Service Vehicles (PSV) and tractors used for ploughing farms, yesterday hit a two-year high, a price hike that is expected to trickle down to consumers.

Diesel rose by Sh1.17 per liter while petrol and kerosene rose marginally by Sh0.78 and Sh0.77 per liter respectively.

The Energy Regulatory Commission (ERC) attributes the hike in prices to averagely landed cost of importation recorded in the month of February 2017.

“The changes in this month’s prices have been as a consequence of the average landed cost of importation,” the Commission said in a statement.

“Landed Costs includes so many things that include pipeline transport, road transport, pipeline losses and depot losses among others. Those hardest hit are those living further away from Mombasa,” added the regulator.

According to the Commission, the landed cost of diesel importation rose by 3.84 per cent to Sh53, 500 per ton last month down from Sh51, 500 per ton recorded in the month of January.

In Nairobi, Super petrol will now retail at Sh101.05, diesel at Sh90.44 while kerosene will retail at Sh67.96.

The hike in diesel last month pushed the price of ploughing farms to Sh2, 500, the highest in history, up from Sh1, 800 paid during the previous planting season. The slight hike in diesel prices may push expenses higher than what farmers were paying last month.

The ERC has warned the public regarding fraudsters masquerading as ERC officers who purport to monitor fuel prices on behave of the Commission.

 

 

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