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Bolt Hikes Fares Amid Increase in Fuel Cost

bolt fares

A Bolt app user [Photo/Courtesy]

Bolt consumers will have to go deeper into their pockets to use the digital hailing cab service.

This comes after the company raised fares by at least 4%.

The business stated in a statement on Monday that the hike was necessary due to recent increases in fuel prices.

Read: Bolt to Allow Drivers Set their Own Fares, Riders to Select Drivers

“Bolt the leading on demand transport platform in Africa has revised its fares by 4% following the recent fuel price hike by the Energy and Petroleum Regulatory Authority (EPRA),” Bolt said.

“This has resulted in a matching increment in the Per Km fares for Bolt rides, by KES 0.47 for each Km completed on-trip.”

Bolt used to charge Sh26.90 per kilometer for its cheap fare category, but with the new revisions, the pricing will rise to Sh27.37 per kilometer in Nairobi.

Read Also: Bolt Launches Vehicle Financing Scheme to Help App Drivers Own Vehicles

The business has also raised the Lite category’s minimum fare from Sh150 to Sh180.

The start fee has also been raised from Sh55 to Sh70.

The energy regulator on Monday increased diesel and petrol prices by Sh5 a litre to Sh115.60 and Sh134.72 respectively — the highest prices in Kenya’s history.

Read Also: Bolt Introduces Early Cash-out Option for Drivers

The average landed cost of imported super petrol increased by 13.34 per cent from USD596.79 PER cubic metre in January 2022 to USD676.40 per cubic metre in February 2022; Diesel increased by 11.74 per cent from USD606.16 per cubic metre to USD677.31 per cubic metre.

According to EPRA, the government will utilize the Petroleum Development Levy to cushion consumers from otherwise high prices.

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Written by Eva Nyambura

Content creator at Kahawatungu.com | Passionate about telling the untold story. Lover of life, music and technology. Simplicity is KEY

Email: news@kahawatungu.com

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