Kenyan farmers are set to feel the impact of the soaring cost of fuel as they plan to prepare their farms for the planting season.
Currently, they are yet to rest after their harvest margins from last season was hampered with lots of rain received from October to late January this year.
The Energy and Petroleum Regulatory Authority (EPRA) in its monthly price review, set new fuel prices across the country on Friday.
In Nairobi, Super petrol was increased by KSh2.67 per litre to KSh 112.87, Diesel by KSh2.13 per litre to KSh104.45. However, Kerosene price decreased by Ksh1.26 per litre to KSh 102.69.
The changes in February’s prices were attributed to an increase in the average landed cost of imported Super Petrol by 3.91% from $471.01 in December 2019 to $489.44 per cubic metre in January 2020.
Food, energy, and transport costs have a significant weight in the basket of goods and services used to measure inflation, making them the main drivers of the cost of living measures.
Kenya’s consumer price inflation marginally slowed in the month of January to 5.78% compared to 5.82% a month earlier.
During the period, month on month transport costs contracted by 0.04% compared to a 2.10% surge recorded in December.
Higher transport costs were consistent with the upward review of local fuel prices following an upswing in the cost of global crude oil. In the month under review, the Energy & Petroleum Regulatory Authority (EPRA) raised fuel prices by Ksh 0.70, Ksh 0.54 and Ksh 1.64 for super petrol, diesel and kerosene respectively