KenyaMaking the news

Kenya fuel prices hit record high as subsidy removed

1 Mins read

The cost of fuel in Kenya has risen to a new record high after the government partially removed subsidies that cushioned consumers from the global hike in oil prices.

The energy regulator said late on Wednesday night that it had removed the subsidy for super petrol, while retaining a smaller subsidy for diesel and kerosene.

In the new prices, super petrol – mostly used by private motorists – will now cost about 179 shillings ($1.5; £1.3) a litre, up from 160 shillings while diesel, which is used by transporters and industries will cost 165 shillings in the capital, Nairobi.

Kerosene, which is mainly used by low-income households for cooking and lighting, will cost about 148 shillings.

It comes after President William Ruto indicated in his inaugural speech that his administration would do away with fuel and food subsidies, noting that they were costly and ineffective.

But there were concerns that a complete removal of the subsidies would hit the economy hard as the fuel prices directly affect the cost of living.

 

 

Source: Isaac Dzidzoamenu | Starrfm.com.gh

Related posts
AfricaGhanaMaking the news

Inspiring African youth to "dream with ambition, lead with conviction", Kamala Harris

1 Mins read
Inspiring African youth to “dream with ambition, lead with conviction”, Kamala Harris US Vice President, Kamala Harris has encouraged young Africans to strive…
AfricaMaking the news

Top 10 most ethnically diverse countries in Africa

1 Mins read
Top 10 most ethnically diverse countries in Africa. As the world becomes increasingly interconnected, it is essential to recognize and celebrate ethnic…
AfricaAgribusinessMaking the news

Top 10 African countries producing Palm Oil

2 Mins read
Top 10 African countries producing Palm Oil Palm oil has become an essential ingredient in various products we use daily, from food…

Leave a Reply

Your email address will not be published. Required fields are marked *

error: Content is protected !!