CBK Issues Update on Global Fuel Trends Ahead of EPRA Review

CBK Issues Update on Global Fuel Trends Ahead of EPRA Review

CBK Issues Update on Global Fuel Trends Ahead of EPRA Review: The Central Bank of Kenya (CBK) on Friday issued an update on the global fuel trends ahead of the Energy and Petroleum Regulatory Authority (EPRA)’s fuel price review scheduled for September 14.

The regulator revealed that International oil prices declined marginally during the week ending September 12, reflecting a slowdown in global oil demand.

According to the central bank, global inflation concerns also continued to ease as most countries adopted progressive monetary measures.

“The Murban oil price declined to USD 72.34 per barrel on September 12 from USD 72.99 per barrel on September 5,” the Central Bank stated in its weekly report.

The Kenyan Shilling also strengthened slightly against the United States Dollar and remained stable against other major currencies globally.

It exchanged at Ksh129.18 per US dollar on September 12, compared to Ksh129.19 per US dollar on September 5.

In its August review, EPRA made no changes in fuel prices compared to the rates it announced in July.

Super petrol was to retail at Ksh188.84, Diesel at Ksh171.60 and Kerosene at Ksh161.75.

“In the period under review, the maximum allowed petroleum pump price for Super Petrol, Diesel and Kerosene remain unchanged,” EPRA announced.

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