CBK Signals Possible Drop in Fuel Prices as Global Oil Costs Fall Ahead of EPRA Review

The Central Bank of Kenya (CBK) announced a drop in global oil prices, with Murban crude falling from $88.48 to $87.38 per barrel amid renewed optimism over US-Iran peace negotiations. The Energy and Petroleum Regulatory Authority (EPRA) is set to announce revised fuel prices on June 14, with a possible Ksh10 reduction in diesel. The Kenyan shilling remained stable at 129.52 against the US dollar. Overall inflation rose to 6.7% in May, driven largely by higher energy and transportation costs.