Murban Crude Oil Prices Surge Amid Middle East Tensions

The price of Murban crude oil has risen significantly in recent days due to growing concerns over potential supply disruptions in the Middle East.

According to the Central Bank of Kenya's weekly bulletin, the price of Murban crude oil climbed by $4.23 per barrel to reach $86.01 on September 3, up from $81.78 a week earlier.

This increase represents a 5.2% rise in just one week and has sparked fears that Kenyan motorists may face higher fuel prices at the pump.

The Energy and Petroleum Regulatory Authority (EPRA) is set to review fuel prices on September 14, which could lead to revised maximum retail fuel prices taking effect from midnight on the 15th of the same month.