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Bolt Reviews Fares Upwards Over Increased Fuel prices

Bolt
[PHOTO/ COURTESY]

Taxi- hailing service, Bolt has reviewed its prices upwards following the increase in fuel prices in the country.

The company’s budget ride option, Bolt lite, will now charge Sh26.90 per kilometre, up from the Sh25 for the same distance.

Drivers registered on the Bolt app had protested that despite the increase in fuel prices, the low fares had persisted, resulting in low commissions for the car owners.

“We acknowledge the huge financial burden on the customers and drivers with respect to the increased fuel prices in the country. Our pricing has always been informed by market forces and driver earnings,” Bolt East Africa regional manager Micah Kenneth said.

“We trust that our evaluation on fluctuating fuel costs and the action to mitigate the impact, will stabilise the growth and sustainability of driver earnings and cost of doing business.”

Read: Bolt Ventures Into Car Hire Services with the Launch of “Bolt Drive”

Drivers registered in taxi-hailing apps Bolt, Uber and Little cab have held several strikes in the past, citing low fares despite the high operation costs. This has prompted the operators to increase fares occasionally.

Last month, Uber also revised their fares upwards. Although no official communication was issued, riders noted that the prices had gone up by around Sh100.

In the recent review for May, the Energy and Petroleum Regulatory Authority (EPRA) announced that petrol prices would go up by Sh3.56 per litre to a record Sh126.37 high.

Bolt said the prices will be revised in all ride categories across all towns where it is operational including Mombasa, Thika, Kisumu, Kakamega, Nakuru, Naivasha, Eldoret, Kitale, Nyeri, Meru, Embu, Nanyuki, Karatina, Kilifi and Malindi.

However, the prices will vary depending on the Epra fuel prices per town.

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Written by Vanessa Murrey

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