GLOBAL OIL PRICES FALL AHEAD OF E.P.R.A’s OCTOBER- NOVEMBER FUEL PRICE REVIEW.
Global oil prices have dropped notably in the days leading up to the Energy and Petroleum Regulatory Authority (EPRA)’s October–November fuel price review, a development that has stirred widespread anticipation across Kenya. The decline in international crude oil prices comes as markets react to a combination of factors including slowing global demand, rising oil inventories, and easing geopolitical tensions that had previously kept prices high. Brent crude, the global benchmark, recently fell below the $80 per barrel mark for the first time in several months, signaling potential relief for oil-importing nations such as Kenya. The decline has been attributed to weaker-than-expected economic data from major consumers like China, the United States, and parts of Europe, alongside increased production from oil-exporting countries looking to stabilize their economies through higher output.
For Kenya, the timing of this global price dip could not be more critical. EPRA’s monthly fuel price review—scheduled to take effect from mid-October—will determine new retail prices for petrol, diesel, and kerosene, commodities that directly influence the cost of transportation, manufacturing, and basic household goods. The current review period comes amid rising public concern over the high cost of living, with transport operators, manufacturers, and small-scale traders all expressing hope that a drop in international oil prices will translate to lower local pump prices. Should EPRA adjust prices downward, it would offer much-needed breathing space to consumers who have been grappling with inflated costs since the beginning of the year.
Economic analysts, however, caution that global price movements are only one part of the equation. The Kenyan shilling’s exchange rate against the U.S. dollar, which affects import costs, as well as government levies and taxes on petroleum products, will play a decisive role in determining whether motorists experience significant savings. Over the past months, EPRA has maintained relatively high prices despite occasional drops in global oil costs, citing currency depreciation and elevated importation expenses. Still, with crude oil prices now trending downward and regional competitors already seeing reductions in pump prices, pressure is mounting on EPRA to deliver a meaningful adjustment.
The outcome of this price review is also being closely watched by policymakers and economists, as fuel prices have a ripple effect across all sectors of the economy. A reduction could ease transport costs, lower food prices, and slow down inflation, offering a welcome boost to household purchasing power. On the other hand, if local prices remain unchanged despite the global decline, it may reignite public frustration and debate over Kenya’s energy pricing formula. As the nation awaits EPRA’s announcement, the mood among citizens is cautiously optimistic, with many hoping that the global oil market downturn will finally translate into tangible relief on the ground.
