President William Ruto’s administration has raised the cost of energy yet again, amid public outrage over the country’s exorbitant cost of living.
The Energy Petroleum Regulatory Authority (EPRA) said on Tuesday that it had amended fuel prices and foreign exchange fluctuation rates charged on Kenya Power energy.
The energy regulator increased the fuel energy price on electricity by 18.7%, from Sh 4.16 to Sh 4.94 per unit.
According to FXPesa senior accounts manager Jesse Ogola, increased gasoline prices will have an impact on manufacturing operations in the country, influencing product prices.
“Higher manufacturing costs due to higher fuel prices affect most producers’ budgets, leading to difficult choices; either a hike in the product sale price,” stated Ogola in an exclusive interview with one of the local dailies.
The increase in the cost of power will hurt Kenyans who are already struggling with high living costs due to the high cost of fuel.