Kenya raises fuel prices again as Middle East conflict squeezes oil supply

Kenya has increased retail fuel prices for the second consecutive month amid rising global energy costs and supply pressures linked to the conflict in the Middle East.

In a statement, the Energy and Petroleum Regulatory Authority (EPRA) announced that the price of a litre of petrol in Nairobi would rise to 214.25 Kenyan shillings from about 207 shillings.

Diesel prices recorded a sharper increase, climbing to a historic high of 242.92 Kenyan shillings per litre from 196.63 shillings, while kerosene prices remained unchanged at 152.78 shillings per litre. The new prices will remain in effect from May 15 to June 14, when the next monthly review is expected.

The price hikes follow a 24.2 per cent increase announced last month and come as global crude oil supplies tighten due to instability in the Middle East. Kenya relies heavily on imported fuel products sourced mainly from Gulf countries through government-to-government supply agreements.