International crude oil prices have climbed again, with fresh data from the Central Bank of Kenya (CBK) pointing to a tightening market that could influence the cost of fuel at Kenyan pumps. Kenyans may face more pain at the pump. According to the CBK’s weekly bulletin published on Friday, October 30, Murban crude oil prices rose to USD 110.46 (KSh 14,283) per barrel on October 29, up from USD 108.23 (KSh 14,000) per barrel recorded on October 22. The CBK attributed the increase to sustained geopolitical risks continuing to weigh on global supply expectations. “Murban crude oil prices rose to USD 110.46 per barrel on October 29, up from USD 108.23 per barrel on October 22, as geopolitical risks remain,” it stated. What the price rise means for Kenya Kenya relies almost entirely on imported crude oil to meet its domestic fuel needs, meaning fluctuations in global oil markets feed directly into the cost of petrol, diesel, and kerosene sold across the country.
The Energy and Petroleum Regulatory Authority (EPRA) reviews pump prices on a monthly cycle, adjusting rates based on prevailing international crude benchmarks and the cost of landing fuel in Kenya. A sustained rise in Murban crude prices during the review window typically translates into higher prices at the pump when EPRA publishes its new schedule. For ordinary Kenyans, the consequences are wide-ranging. Transport operators dependent on diesel tend to pass on higher fuel costs to passengers through increased fare charges. Similarly, businesses that rely on fuel-powered generators or delivery vehicles face rising operational costs, pressure that can eventually push up the prices of everyday goods and services. Geopolitical risks sustaining upward pressure The CBK’s bulletin noted that geopolitical tensions remain a key driver of the current price trajectory. Global oil markets have remained sensitive to developments in conflict zones and diplomatic disputes that threaten to disrupt supply chains, keeping traders cautious and prices elevated. Murban crude, produced in Abu Dhabi and widely used as a benchmark for Middle Eastern oil, has shown a consistent upward trend over the two reporting weeks covered in the CBK data. With EPRA’s next fuel pricing review approaching, the direction of crude prices in the final days of the review period will be closely watched by industry players, transport sector stakeholders, and consumers alike.
