Central Bank of Kenya (CBK) weekly review has provided an update on global fuel prices ahead of next review 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 announcing a reduction in global fuel prices.

CBK noted that Murban oil prices had significantly dropped to Ksh9,052 per barrel in the previous week ending Friday, March 6, 2025, compared to Ksh9,855 per barrel on February 26, 2025.

The Central Bank of Kenya further announced that major oil exporters signalled an increasing output in the coming days.

This comes after the Organization of the Petroleum Exporting Countries and its allies (OPEC+) reaffirmed their commitment to market stability on healthier oil market outlook as eight member countries, namely Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman, agreed to proceed with a gradual and flexible return of a combined 2.2 million barrels-per-day voluntary adjustments starting on April 1, 2025.

OPEC countries indicated that the gradual return would go up to 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 prices

In the February 2025 review, fuel prices 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 while 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 said in a statement.