Fuel prices have risen to another historic high in Kenya. Kenyan motorists will from midnight today buy petrol at Sh.150.12 and diesel at Sh. 131 per litre. Kerosene will now sell at Sh. 118.94 per litre.
This follows an increase of Sh. 5.50 per litre from last review’s prices.
A litre of petrol has been selling at 144.62. Diesel has been selling at Sh. 125.5. Kerosene on the other hand has been selling at Sh. 113.55 per litre.
Last month, fuel prices increased by about Sh. 9.9 per litre. A litre of petrol was until today been selling at Sh. 134.72 and a litre of diesel at Sh. 115.6. barely about 30 days ago.
These new fuel prices will work under the petroleum subsidy the government has been running.
Through the subsidy, the national treasury has been demanding that oil marketers sell their fuel at a loss. This loss is then supposed to be compensated by the government through the fuel subsidy.
However, the government has been failing to pay up, leaving oil marketers exposed to selling their fuel at a loss without any forthcoming compensation, and causing fuel prices to rise illegally as supply thins out.