This is expected to escalate further as global fuel prices continue to soar, with traders passing the high import and transport bill to consumers. International oil prices increased further during the week, largely reflecting the ongoing global supply cuts. Murban oil price increased to $66.53 per barrel on Wednesday from $64.57 per barrel last week. Last week, the Strategic Food Reserve said it fears that the country might face food shortages in the coming months as evidenced by the sharp demand for food against high prices of farm produce. This is further worsened by the ongoing inflow of locusts that have destroyed late harvest in Eastern Kenya.

Source: The Star March 07, 2021 00:56 UTC