Kenyan motorists could once again be forced to dig deeper into their pockets so as to fuel their vehicles.
The Central Bank Weekly report has revealed that the global oil prices have gone up, meaning the pump prices could be affected in the next review.
“Murban crude oil prices increased to USD 101.67 per barrel on October 8 from USD 95.76 per barrel on October 1, driven by supply concerns associated with ongoing geopolitical tensions in the Middle East,” the weekly report states
Adding, “Over the same period, spot gold prices declined to USD 4,133.93 per ounce from USD 4,177.76 per ounce, reflecting reduced safe-haven demand amid improved market sentiment,”
The report comes a day before Energy and Petroleum Regulatory Authority (EPRA) makes its monthly review on the 14th of every month.
The current maximum retail fuel prices in Nairobi set by EPRA are Sh 214.03 per litre for Super Petrol, Sh 217.86 per litre for Diesel, and Sh 191.38 per litre for Kerosene.
