- The Central Bank of Kenya revealed that the cost of Murban crude oil in the international market has risen more than last week
- This followed the escalating conflict in the Middle East after the United States and Israel conducted a joint military operation against Iran
- The Energy and Petroleum Regulatory Authority (EPRA) will announce new fuel prices on Saturday, March 14, 2026
Kenyan motorists are expected to feel the pressure of rising fuel prices in the world following the escalating conflict in the Middle East.
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The weekly report of the Central Bank of Kenya (CBK), which focuses on current financial and financial developments, says that inflationary concerns continued throughout the week due to the drop in global oil prices related to the ongoing conflict in the Middle East.
The CBK newsletter was published on Friday, March 13.
What is the cost of Murban crude oil?
Oil prices have risen sharply since the United States (US) and Israel began a joint military operation against Iran.
CBK revealed that the cost of Murban crude oil imported from Kenya increased from USD 76.25 (KSh 9,861) per barrel on Thursday, March 5, to USD 92.13 (KSh 11,915) per barrel on Thursday, March 12.
This represents an increase of KSh 2,054 per barrel in one week.
“International oil prices remained volatile during the week, with Murban crude trading at US$92.13 per barrel on March 12, compared to US$76.25 per barrel on March 5,” CBK said.
When will EPRA announce new fuel prices?
The monthly review is in accordance with Section 101(y) of the Petroleum Act of 2019 and Legal Notice No. 192 of 2022.
The prices will be inclusive of Value Added Tax (VAT) of 16% in accordance with the provisions of the Finance Act 2023, the Tax Laws Amendment Act 2024 and the revised rates of excise duty adjusted for inflation as per Legal Notice No. 194 of 2020.
What did the Kenyan government say despite fears about oil supply?
Presidential Administration William Ruto you have assured Kenyans that the country has enough oil reserves to protect it from the disturbances that may be caused by the ongoing unrest in the Middle East.
Opiyo Wandayi, Minister of Energy and Petroleum, said that Kenya currently has enough stocks to meet regional and local needs.
In a press release on Tuesday, March 3, Wandayi confirmed that scheduled imports are guaranteed until the end of April 2026, ensuring continued oil availability despite global uncertainty.
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He also revealed that the government is actively involved in negotiating with Gulf government suppliers.
What are the current fuel prices in Kenya?
In the last inspection on February 14, the energy regulator reduced the prices of petrol, diesel and kerosene.
EPRA reduced the cost of petrol by KSh 4.24, diesel by KSh 3.93, and kerosene by KSh 1 per liter.
In Nairobi, petrol is sold at KSh 178.28, diesel is sold at KSh 166.54, while kerosene is sold at KSh 152.78.
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