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Oil is above $100 a barrel again as the Gulf crisis deepens. EPRA’s review on 14 October could end three months of frozen pump prices.
Brent crude has traded above $100 a barrel for about a month and climbed to about $107 last week, after talks between the United States and Iran failed and Washington ordered a third aircraft carrier to the Middle East. Iran says the Strait of Hormuz, through which much of the Gulf's oil passes, stays closed until the US accepts its proposal. Houthi forces fired missiles and drones at Saudi oil facilities over the weekend.
The G7 countries have agreed to release 100 million barrels of oil and diesel from reserves over four months to cool prices.
What Kenya pays now
Nairobi prices until 14 October: super petrol Sh214.03, diesel Sh217.86 and kerosene Sh191.38 a litre.
EPRA held prices in its September review even though the landed cost of diesel rose 11.86 per cent and kerosene 9.71 per cent between July and August. Petrol's landed cost fell 7.87 per cent.
VAT on fuel stays at the reduced rate of 8 per cent until 14 October.
Transport costs were 15.6 per cent higher in September than a year earlier, according to the national statistics office.
"Heightened distribution expenses ultimately filter down to consumers through elevated commodity prices," said Tobias Alando, chief executive of the Kenya Association of Manufacturers. Martin Chomba, chairman of the Petroleum Outlets Association of Kenya, said the Gulf tensions were "increasingly becoming a household economic issue rather than a distant international crisis".
Matatu Owners Association president Albert Karakacha said the Government "should look into lowering fuel prices through the different options at hand, including taxes". The association has not announced a fare rise.
Cooking gas: oil marketers told Business Daily last month that LPG prices "should go up" in October. A 13kg refill cost between Sh3,225 and Sh3,400 in Nairobi in late September. No October increase had been confirmed by Monday.
What it means for your pocket
Kerosene is the fuel most Kibra households buy for stoves and lamps. Any rise on 14 October hits here first.
Matatu fares tend to follow diesel. Watch for notices at the stage after 14 October.
If you can, buy your next gas refill before the middle of the month.
The next EPRA price announcement is on Wednesday 14 October. KNN will publish the Nairobi prices that evening.
Sources: The Star (oil price, landed costs, quotes), EPRA (current prices), Al Jazeera (Hormuz), The National (third carrier), Africanews (G7 release), The Star (attacks on Saudi facilities), Rio Times (cooking gas expectation).
That was a Kibra News Network report, read by an A I voice.
Brent crude has traded above $100 a barrel for about a month and climbed to about $107 last week, after talks between the United States and Iran failed and Washington ordered a third aircraft carrier to the Middle East. Iran says the Strait of Hormuz, through which much of the Gulf’s oil passes, stays closed until the US accepts its proposal. Houthi forces fired missiles and drones at Saudi oil facilities over the weekend.
The G7 countries have agreed to release 100 million barrels of oil and diesel from reserves over four months to cool prices.
What Kenya pays now
Nairobi prices until 14 October: super petrol Sh214.03, diesel Sh217.86 and kerosene Sh191.38 a litre.
EPRA held prices in its September review even though the landed cost of diesel rose 11.86 per cent and kerosene 9.71 per cent between July and August. Petrol’s landed cost fell 7.87 per cent.
VAT on fuel stays at the reduced rate of 8 per cent until 14 October.
Transport costs were 15.6 per cent higher in September than a year earlier, according to the national statistics office.
“Heightened distribution expenses ultimately filter down to consumers through elevated commodity prices,” said Tobias Alando, chief executive of the Kenya Association of Manufacturers. Martin Chomba, chairman of the Petroleum Outlets Association of Kenya, said the Gulf tensions were “increasingly becoming a household economic issue rather than a distant international crisis”.
Matatu Owners Association president Albert Karakacha said the Government “should look into lowering fuel prices through the different options at hand, including taxes”. The association has not announced a fare rise.
Cooking gas: oil marketers told Business Daily last month that LPG prices “should go up” in October. A 13kg refill cost between Sh3,225 and Sh3,400 in Nairobi in late September. No October increase had been confirmed by Monday.
What it means for your pocket
Kerosene is the fuel most Kibra households buy for stoves and lamps. Any rise on 14 October hits here first.
Matatu fares tend to follow diesel. Watch for notices at the stage after 14 October.
If you can, buy your next gas refill before the middle of the month.
The next EPRA price announcement is on Wednesday 14 October. KNN will publish the Nairobi prices that evening.
KNN Newsroom is the staff byline for stories written, rewritten and edited at the Kibra News Network desk. Where a story credits an outside outlet, the original source is linked at the foot of the piece.
