International Oil Prices Drop by More than KSh 1k per Barrel, EPRA’s Will Be Expected

• The Central Bank of Kenya highlighted financial and financial developments for the past week during the Middle East crisis
• In its report, the bank regulator revealed that global oil prices remained high, but the cost of Murban crude oil decreased slightly.
• Despite the disruption of the supply chain caused by the crisis, the government assured Kenyans that they will be protected from high international oil prices

Despite the growing conflict in the Middle East, which pits Iran against the United States and Israel, the price of oil in the world has decreased slightly.

This is according to the weekly newsletter of the Central Bank of Kenya (CBK), highlighting local and international financial and financial developments.

According to CBK, inflation concerns continued throughout the week due to high oil prices and ongoing geopolitical threats.

Due to higher energy prices, inflation in the Euro area increased from 1.9% in February 2026 to 2.5% in March.

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“The US dollar index weakened by 0.25% during the week, reflecting a slight decrease in demand for security as global risk sentiment improved slightly,” CBK said.

What is the cost of Murban crude oil?

Kenya’s banking regulator noted that due to the closure of the Strait of Hormuz, global oil prices remained high, indicating ongoing supply problems.

However, the cost of Murban crude oil fell from USD 97.99 (KSh 12719.10 at the current exchange rate) per barrel on Sunday, March 26, to USD 89.45 (KSh 11,610.61) per barrel on Wednesday, April 1.

“International oil prices remained high amid the closure of the Strait of Hormuz, reflecting continued supply concerns. Murban crude fell to USD 89.45 per barrel on April 1, from USD 97.99 per barrel on March 26,” the newspaper revealed.

What did Kenya say about high oil prices?

Kenyans are assured by the President’s administration William Ruto that, despite the disruption of the supply chain caused by the conflict in the Middle East, they will be protected from the rise in international oil prices.

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Minister of Finance John Mbadi he noted that the government has put measures to reduce the impact such as the diversification of the foreign market, targeted support, and the Oil Control Fund (allocating KSh 17 billion) to develop economic activities.

According to the Minister, Kenya is also reorganizing to take advantage of new opportunities, such as increasing its use of Lamu Port as a regional shipping hub.

To protect consumers if the war in the Middle East continues after the May to June pump price review period, the government will also review the value added tax (VAT) on petrol products.

The Energy and Petroleum Regulatory Authority (EPRA) will review fuel prices on Tuesday, April 14.

What are the fuel prices in Tanzania?

Energy and Water Regulatory Authority of Tanzania (EWURA) published revised fuel prices on Wednesday, April 1.

EWURA increased the cost of petroleum products in the East African country, citing the crisis in the Middle East, where the country gets its oil.

Premium fuel costs TSh 3,820 (KSh 192) in Dar es Salaam, from TSh 2,864 (KSh 143) in March.

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Source: TUKO.co.ke