With just a week to Energy and Petroleum Regulatory Authority (EPRA) reviewing pump prices in the country, a report from Central Bank of Kenya (CBK) shows there has been a further decline in prices of oil globally, in the oil week ending 4 January 2024.
The report reveals oil prices have declined by at least $0.72 (approx. KSH. 111.69) per barrel within the last one month.
However for EPRA, the reduction in the global prices of oil might not greatly affect a lower review of monthly pump prices in Kenya given that the regulatory authority uses parallel rates than those issued by the CBK.
EPRA updates pump prices in the country every 14th day of a new month.
