Good News for Kenyan Motorists as Global Oil Prices Drop Nearly 15% Ahead of Upcoming EPRA Review

Kenyan motorists could soon enjoy relief at fuel stations after international oil prices recorded a significant decline of nearly 15 per cent ahead of the next monthly fuel price review by the Energy and Petroleum Regulatory Authority.

The drop in global crude oil prices has raised hopes that petrol, diesel and kerosene prices could come down when EPRA announces its next pricing adjustments, which will take effect from November 15 to December 14, 2026.

According to the Central Bank of Kenya Weekly Bulletin released on Friday, November 6, Murban crude oil prices declined to KSh 12,224.44 per barrel on November 5, down from KSh 14,354.60 recorded on October 29.

In dollar terms, the price dropped from $110.46 to $94.04 per barrel, representing a substantial reduction within one week.

The decline has been attributed to developments following the United States midterm elections and expectations of reduced risks of disruptions to oil supplies from the Middle East.

The latest development comes at a time when Kenyan consumers are struggling with expensive petroleum products following the previous EPRA review.

During the October 15 to November 14 pricing period, super petrol increased by KSh 12.93 per litre, diesel by KSh 9.90 and kerosene by KSh 28.49.

The increases pushed Nairobi’s pump prices to KSh 226.96 for petrol, KSh 227.76 for diesel and KSh 219.87 for kerosene.

Meanwhile, the Kenyan shilling has remained relatively stable against the US dollar, trading at KSh 129.96, a development that could help limit the cost of importing petroleum products.

Treasury Cabinet Secretary John Mbadi has also indicated that the government intends to use the Petroleum Development Levy stabilisation fund to cushion consumers against high fuel costs.

However, the expected reduction will depend on the average landed costs of imported petroleum products during the assessment period and the government’s decision on the stabilisation fund.

Kenyans are now awaiting EPRA’s next announcement, hoping the decline in international oil prices will translate into cheaper fuel at local petrol stations.

https://peopledaily.digital/business/oil-prices-fall-nearly-15-ahead-of-epra-fuel-price-review?fbclid=IwdGRjcAVa-WxjbGNrBVr5A2V4dG4DYWVtAjExAHBkb2YFc3J0YwZhcHBfaWQMMzUwNjg1NTMxNzI4AAEfDRrTdD4_rU9rrC1h8L0Z-HAxaHTRk7GNLil97Q7w-fSzJ4fztbMHBdqzsYU_aem_-UdqdKzdGGbN6oXjzC6trg

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