Kenya has sharply increased retail fuel prices as global oil costs surge amid ongoing tensions in the Middle East, placing fresh pressure on consumers and businesses. Petrol prices jumped over 16%, while diesel rose even higher, climbing 24.2%. The Energy and Petroleum Regulatory Authority attributed the hikes to a steep rise in import costs, which have surged by nearly 70%. The news sent motorists scrambling to pump stations across Nairobi hours before the new prices kicked in, causing long queues. Kenya imports virtually all its fuel from Persian Gulf suppliers, leaving it acutely exposed to regional disruptions. In a partial cushion, the government trimmed VAT on petroleum products from 16% to 13%—a small relief for consumers bracing for the ripple effects on transport, food, and everyday essentials.
CNBC Africa
