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Diesel, Petrol Costs Rise For Second Consecutive Month

VERON MEFIA

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More pain at the pump as petrol diesel costs rise

(KDRTV)-Kenyans to suffer a major blow as the costs of diesel and petrol escalate for a consecutive month in the latest spectrum of the review by the Energy Petroleum Regulatory Authority (EPRA)

As we speak, the petrol price has increased by an average of Ksh. 2.67 across the board while the diesel cost has escalated with Ksh. 2.13 per liter.

Read also: Lipa na Mpesa partners with Petro Oil Kenya

The new review by the authority has been impacted by an increase in the average landing costs of both petrol and diesel

One liter of petrol will now cost Ksh. 112.87 in Nairobi while diesel will cost Ksh. 104.45 per liter

However, the cost of Kerosene will come down to Ksh. 102.69 for every liter

The new prices will greatly affect the economy of the country while the inflation rate has been retained in January at a higher 5.78 percent ceiling from 5.82 percent at the end of 2019

However, the global price of oil is expected to decline globally following the outbreak of coronavirus in China which has resulted in a decline in general oil demand

Reports indicate that on Thursday, the International Energy Agency (IEA) hinted that the global oil demand would decline by 435,000 barrels per day (bpd)

Read also: How Kitui Teacher Was Murdered, Burned In Front of Her Daughters

Even the Organization of Petroleum Exporting Countries (OPEC) is set to also consider the downfall or the weaker demand in a bid to support the market

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