Sunday 09th March, 2025 09:18 AM|
Central Bank of Kenya (CBK) weekly evaluation has offered an replace on world gas costs forward of subsequent evaluation by the Energy and Petroleum Regulatory Authority (EPRA) scheduled for March 14, 2025.
In their bulletin, CBK led by Governor Kamau Thugge gave hope to motorists by asserting a discount in world gas costs.
CBK famous that Murban oil costs had considerably dropped to Ksh9,052 per barrel within the earlier week ending Friday, March 6, 2025, in comparison with Ksh9,855 per barrel on February 26, 2025.
The Central Bank of Kenya additional introduced that main oil exporters signalled an growing output within the coming days.
This comes after the Organization of the Petroleum Exporting Countries and its allies (OPEC+) reaffirmed their dedication to market stability on more healthy oil market outlook as eight member international locations, particularly Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman, agreed to proceed with a gradual and versatile return of a mixed 2.2 million barrels-per-day voluntary changes beginning on April 1, 2025.
OPEC international locations indicated that the gradual return would go as much as April 2026, leading to stabilisation of the industry
“International oil prices decreased, with Murban oil prices falling to USD 70.45 per barrel on March 6, from USD 76.70 per barrel on February 26, amid major oil exporters (OPEC+) plans to raise oil output,” CBK’s statement read in part.
Current pump costs
In the February 2025 evaluation, gas costs of Super Petrol, Diesel, and Kerosene remained unchanged.
EPRA retained a litre of petrol in Nairobi at Ksh176.58, diesel at Ksh167.06 and kerosene at Ksh151.39.
In Mombasa, a litre of petrol was retained at Ksh173.34, diesel Ksh163.82 and kerosene Ksh148.15 whereas in Kisumu a litre of petrol continued to retail at Ksh176.62, diesel Ksh167.44 and kerosene Ksh151.82.
“In the period under review, the maximum allowed petroleum pump prices for Super Petrol, Diesel, and Kerosene remain unchanged,” Epra stated in a press release.