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Bolt Adjusts Fares Upwards Due to Increased Fuel Prices

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Bolt has revised its fares by four percent following the recent fuel price hike by the Energy and Petroleum Regulatory Authority (EPRA).

This has resulted in a matching increment in the Per Km fares for Bolt rides, by Ksh0.47 for each Km 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 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 percent increase in the fares,  is expected to hedge driver earnings on the platform against the 3.9 percent 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 Ksh0.66 fare per Km as these are larger engine cars.

“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,” said Kenneth Micah, Regional Manager, Bolt Eastern Africa.

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.

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 Ksh4 discount per litre of fuel.

According to the partnership, Bolt drivers are issued with a prepaid Rubis card that allows them to enjoy a Ksh4 discount per litre of fuel.

“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.

Read: Bolt Announces New Ksh81.5 Billion Funding

>>> Bolt Launches Women-Only Ride Category In Mombasa

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BT Reporter
BT Reporterhttp://www.businesstoday.co.ke
editor [at] businesstoday.co.ke
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