Kenya has sharply increased fuel prices, with diesel recording a significant jump despite a government tax cut, as rising global oil costs driven by the conflict in Iran continue to filter through to domestic markets.
The Energy and Petroleum Regulatory Authority raised the price of diesel by $0.31 to $1.6 per litre, while petrol increased by $0.22 to a similar level.
The regulator said the adjustments reflect higher international oil prices and increased shipping costs, even as value added tax was reduced from 16% to 13% in an effort to cushion consumers.
The new prices will remain in effect until May 14, when the next review is expected.
Fuel shortages have been reported in parts of the country, although the government maintains that national stock levels remain adequate and has accused some fuel companies of hoarding supplies.
–ChannelAfrica–
