Bolt has revised its fares by 4% following the recent fuel price hike by the Energy and Petroleum Regulatory Authority (EPRA).
In a statement, the leading on demand transport platform in Africa 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, previously charged KES 26.90 per kilometre on its budget ride category (dubbed Lite), and the new changes will see the prices go up to KES 27.37 per kilometre in Nairobi. Bolt has also increased the minimum fare for Lite category from Ksh. 150 to Ksh.180 and start fee from Kshs. 55 to Kshs. 70.
The marginal increase of Ksh.0.47 per kilometre and increase on the start fee, which culminates to an overall 4% increase in the fares, is expected to hedge driver earnings on the platform against the 3.9% increase in fuel-cost.
Bolt Base, Bolt Green and Bolt Women Only will also have similar increases in fare per Km. Per Km prices on the XL category will increase by KES 0.66 fare per Km as these are larger engine cars.
Bolt Eastern Africa Regional Manager Kenneth Micah 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.
“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,” said Micah.
To further cushion the drivers from the high cost of fuel, Bolt has a running long-term partnership with Rubis Energy Kenya that allows drivers on the platform to enjoy KES 4 discount per litre of fuel.
According to the partnership, Bolt drivers are issued with a prepaid Rubis card that allows them to enjoy a KES 4 discount per litre of fuel and a world class convenience while at any Rubis Gas Station countrywide.
“We continue to work on the holistic driver experience and to provide the support they need to be successful in their businesses. We’ll continue to listen, analyse and innovate our services to the benefit of our drivers and passengers. We believe that these initiatives will also make it possible for passengers to access affordable transport whilst providing better earnings for drivers,” added Micah.