Kenyans Could Face Higher Fuel Costs Ahead of EPRA Review as Global Oil Prices Rise⁩

Kenyans could face changes in fuel prices after the Central Bank of Kenya (CBK) reported an increase in global crude oil prices ahead of the Energy and Petroleum Regulatory Authority’s (EPRA) monthly fuel price review on July 14, 2026.

According to the Weekly Bulletin released by CBK on July 10, 2026, Murban crude oil prices rose to USD 72.27 per barrel on July 9, 2026, from USD 67.99 per barrel on July 2, 2026.

The bulletin indicates that the increase in Murban crude oil prices reflected “a flare up of the conflict in the Middle East during the week,” as global energy markets responded to developments in the region during the week ending July 9, 2026.

Middle East Conflict Drives Oil Price Movement

The CBK bulletin further linked the changes in global energy markets to developments affecting oil prices during the week.

Also Read: Global Oil Prices Continue to Fall, but Kenyans May Have to Wait Longer for Cheaper Fuel

Additionally, the report highlighted the impact of higher energy prices on global economic projections.

It cited the July 2026 IMF World Economic Outlook, which projected global growth to moderate to 3.0 percent in 2026 from 3.5 percent in 2025.

According to the bulletin, the projected slowdown mainly reflected the impact of higher energy prices attributed to the conflict in the Middle East.

Global Energy Markets Continue to Shift

Beyond crude oil prices, CBK reported other movements in international markets during the period under review.

The bulletin stated that the U.S. Dollar Index strengthened by 0.05 percent during the week.

Meanwhile, spot gold prices declined marginally to USD 4,121.02 per ounce on July 9, from USD 4,122.80 per ounce in the previous week.

CBK included these developments in its global trends section as part of the latest monetary and financial updates.

Also Read: Kenyan Motorists Brace for Possible Fuel Price Hike After Global Oil Surge

Kenya Shilling Remains Stable Amid Oil Market Changes

The CBK bulletin also showed that the Kenya Shilling remained stable against major international and regional currencies during the week ending July 9, 2026.

The report noted that the Shilling exchanged at KSh 129.22 per U.S. Dollar on July 9, compared with KSh 129.30 on July 2.

Furthermore, CBK reported that foreign exchange reserves stood at USD 14.127 billion, equivalent to 6.0 months of import cover, as of July 9.

The latest CBK data highlights global energy market movements as Kenya awaits EPRA’s fuel price announcement on July 14, 2026.

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Central Bank of Kenya headquarters. PHOTO/CBK