CBK Issues Way Forward On Fuel Prices Ahead Of EPRA Review
Kenyans may be in line for lower pump pricing after the Central Bank of Kenya (CBK) reported a decline in global oil prices ahead of the Energy and Petroleum Regulatory Authority’s (EPRA) pump rate review.
In its weekly bulletin published on Friday, June 5, CBK stated that international oil prices fell during the week ending June 4, 2026, amid renewed hope about ongoing peace talks between the United States and Iran.
According to CBK, the price of Murban crude oil fell to $87.38 (Ksh11,315) per barrel on June 4 from $88.48 (Ksh11,457) per barrel on May 28, a decrease of around Ksh142 per barrel.
“International oil prices fell as investors responded to renewed optimism surrounding the ongoing U.S.-Iran peace negotiations,” CBK stated.
“Murban crude oil price decreased to USD 87.38 per barrel on June 4, from USD 88.48 per barrel on May 28.”
The Central Bank of Kenya (CBK) publishes a Weekly Bulletin, outlining recent monetary and financial developments. The Weekly CBK Bulletin for June 5, 2026, can be found at: https://t.co/CaJeNnaUN7 pic.twitter.com/FM5HJ72R0Q— Central Bank of Kenya (@CBKKenya) June 5, 2026
The development comes as EPRA prepares to announce revised fuel prices on June 14, with the new rates set to take effect from June 15 to July 14.
The upcoming review has attracted significant attention after Energy Cabinet Secretary Opiyo Wandayi indicated that EPRA would implement a Ksh10 reduction in diesel prices.
At the same time, CBK noted that the Kenyan shilling remained stable during the review period, exchanging at Ksh129.52 against the US dollar on June 4, the same rate recorded a week earlier.
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- CBK Issues Way Forward On Fuel Prices Ahead Of EPRA Review
Fuel costs in Kenya are influenced by several factors, including international oil prices, the exchange rate of the Kenyan shilling against the US dollar, taxes and levies, as well as the cost of importing petroleum products.
A stable currency helps cushion consumers from sharp increases in imported fuel costs by reducing the amount oil marketers pay when purchasing petroleum products in dollars.
However, despite the marginal decline in crude oil prices, the lender reported that inflationary pressures remained elevated in May.
The bank said overall inflation rose to 6.7 per cent in May from 5.6 per cent in April, largely driven by higher energy and transportation costs linked to previously high global oil prices.
“Overall inflation increased to 6.7 per cent in May 2026 from 5.6 per cent in April 2026, mainly driven by higher energy prices and transportation costs arising from the elevated global oil prices,” CBK noted.
CBK Issues Way Forward On Fuel Prices Ahead Of EPRA Review
