Nairobi, May 14 -- Pump prices have hit a historic high, with a litre of diesel jumping by Sh46.29 to retail at Sh242.92 effective Thursday midnight as consumers take a hit from the US-Israel war on Iran.

A litre of petrol will now retail at Sh214.25, reflecting an increase of Sh16.65, while kerosene remains unchanged at Sh152.78. The prices will remain in force until June 14.

Diesel and petrol prices would have been significantly higher had the State not applied subsidies.

The steep prices come despite subsidies of Sh15.67 per litre of diesel and Sh98.60 per litre of kerosene. Petrol has not been subsidised as the State seeks to ease pressure on an Exchequer already grappling with subsidy arrears estimated at Sh17 billion.

The surge ...