Local News

Tough times as fuel price set to hike once more

Barely two weeks after the fuel price went up, Kenyans will inevitably face yet another increase in a few days.

The increase is a result of the adjustment of the excise duty rate by the Kenya Revenue Authority (KRA), a move that will push manufacturers and importers to pass down the extra costs to consumers.

In a notice issued on August 10, KRA Commissioner General affirmed that the taxman would adjust the rate of excise duty by 4.97 per cent, as the average inflation rate covering the 2020/21 financial year.

In the new pricing, at least 31 excisable products such as fuel, beer, cigarettes, bottled water, energy drinks, and juice will cost more from the beginning of October.

Consumers will pay Sh5.77 more for a litre of beer while prices for spirits will rise by Sh13.20.

A litre of petrol will rise by Sh1.09, while diesel and kerosene will increase by Sh0.566 per litre each.

The price of a packet of 20 cigarettes will increase by Sh3.20 while the duty on bottled water will rise from Sh3.31 to Sh3.47 per litre.

Despite the tough economic times Kenyans will be forced to dig deeper into their pockets, to access these products.

Meanwhile, the manufacturing industry remains among the most affected sectors after the COVID-19 pandemic.

According to the 2021 Economic Survey, the growth per cent dropped to 1 per cent in 2020 from 2.6 per cent in 2019.

By Everlyne Bosibori

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