BUSINESSNews

Bolt Raises Fares Due to Increased Fuel Prices


Ride-hailing company, Bolt, has revised its prices across all cities in Kenya in response to the increased cost of fuel in the country.

This has resulted in a matching increment in the Per Km fares for Bolt rides by an average of KES 2 for each Km completed on-trip. Bolt, previously charged KES 25 a kilometer on its budget ride category (dubbed Lite) and the new changes will see the prices go up by KES 1.90 to KES 26.90 per kilometer in Nairobi.

The changes will be implemented across all Bolt ride categories in all the cities where Bolt currently operates and will vary from town to town in line with the ERC guidelines on fuel prices per city.

“Bolt is a responsible brand that is always trying to do what is best for both drivers and passengers. We acknowledge the huge financial burden on the customers and drivers with respect to the increased fuel prices in the country. We also remain cognizant that we form part of an ecosystem where every part is as important as the other.Our pricing has always been informed by market forces and driver earnings. We trust that our evaluation on fluctuating fuel costs and the action to mitigate the impact, will stabilize the growth and sustainability of driver earnings and cost of doing business,” said Micah Kenneth, Regional Manager, Bolt East Africa.

The Base category will now attract an addition of KES 2.10 per kilometer in Nairobi and KES 1.70 per kilometer in Mombasa, while riders in the economy (Lite) category will now pay an additional KES 1.50 per kilometer in Nakuru and Kisumu towns.

Tuk Tuk and Boda boda services in Mombasa, will each attract an increment of KES 0.60 per kilometer.

Boda boda services in other towns will attract price increment as follows; Nairobi KES 0.80 per kilometer, Nakuru KES 0.70 per kilometer and KES 0.60 per kilometer in both Kisumu and Eldoret.

“We constantly do our reviews to ensure that we continue to provide best earnings for drivers and still remain the most preferred platform by customers. We believe that this small increase will still make it possible for riders to access affordable transport whilst providing better earnings for drivers,” added Micah.

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