According to reports released on Tuesday, February 24, the rise in crude oil prices has been driven by the escalating tensions between the United States and Iran, one of the world's largest exporters of crude oil. Before the spike, a barrel of crude oil was priced at around Ksh 7,700 ($60). In its latest price review, the Energy and Petroleum Regulatory Authority offered motorists some relief by lowering fuel prices for the February-March cycle. If crude prices remain elevated through the pricing window, Kenyans could see an upward adjustment in pump prices. Beyond crude prices, the performance of the Kenyan shilling against the U.S. dollar also plays a crucial role.

Source: Daily Nation February 24, 2026 10:33 UTC