Bolt hikes fares
On-demand transport platform in Africa Bolt has revised its fares upwards by four percent following the recent fuel price hike by the Energy and Petroleum Regulatory Authority (EPRA).
In the new pricing, the taxi-hailing app has increased the fares by Ksh0.47 for each kilometre completed on-trip. Bolt previously charged Ksh26.90 per kilometre on its budget ride category (dubbed Lite), and the new changes will see the prices go up to Ksh27.37 per kilometre in Nairobi.
Bolt has also increased the minimum fare for the Lite category from Ksh150 to Ksh180 and the start fee from Ksh55 to Ksh70.
The marginal increase of Ksh0.47 per kilometre and increase on the start fee, which culminates to an overall four per cent increase in the fares, is expected to hedge driver earnings on the platform against the 3.9 per cent increase in fuel cost.
Bolt Base, Bolt Green and Bolt Women Only will also have similar increases in fare per kilometre prices. The price per kilometre on the XL category will increase by Ksh0.66.
“Drivers are at the core of our operations, and we truly believe that happy drivers provide better quality service for customers. As such, we've been doing extensive reviews to ensure that we continue to provide the best earnings for drivers on our platform and remain the most affordable and preferred platform by customers. We have therefore reviewed our pricing to reflect the current market realities. We are confident that this increase in fares will cushion against the 3.9% rise in fuel cost, and therefore contribute to sustained strong earnings on the platform,” Kenneth Micah, Regional Manager, Bolt Eastern Africa, said.
The changes will be implemented across all Bolt ride categories in Nairobi as the company undertakes to review fares across other towns in line with the EPRA guidelines on fuel prices per city.
EPRA on Monday, March 14, 2022, announced an increase in fuel prices that saw the cost of a litre of super petrol and diesel each increase by Ksh5.
Super petrol is currently retailing at Ksh134.72 per litre in Nairobi while diesel is going for Ksh115.60. Kerosene prices remained unchanged at Ksh103.54.