Global oil prices have climbed to Sh12,943 per barrel as tensions between the US and Iran escalate, prompting fears of increased fuel costs in Kenya. The rise follows heightened geopolitical risks, with analysts warning that the conflict could lead to higher petrol, diesel, and kerosene prices. The Kenya Petroleum Refining Company (KPRC) has not yet adjusted prices, but the Energy Petroleum Regulatory Authority (EPRA) is expected to review pump prices soon.
Kenyan consumers are already facing rising living costs, and the potential for further price hikes could strain household budgets. The US-Iran standoff has disrupted global oil markets, causing volatility in prices. Experts suggest that the conflict may lead to supply chain disruptions, further affecting fuel availability and cost.
The government has not yet announced any immediate measures to cushion the impact on citizens. However, some economists are calling for proactive policies to stabilize the market and protect consumers from sudden price increases. As the situation develops, Kenyan authorities will need to monitor the situation closely to mitigate economic pressures.
The ongoing conflict continues to influence global energy markets, with Kenya’s fuel prices likely to follow the upward trend.
