Strait of Hormuz Crisis Sparks Fuel Price Fears for Kenyan Motorists

Kenyan motorists and businesses are facing a potential rise in fuel prices due to disruptions around the Strait of Hormuz, which has tightened global oil supplies and pushed up refined petroleum costs.

The latest oil markets report shows that global observed oil stocks plummeted by 69 million barrels in July, while inventories have fallen by 410 million barrels since the start of the war.

Kenya imports all its petroleum product requirements in refined form, with prices linked to international markets. The Energy and Petroleum Regulatory Authority (EPRA) says international petroleum prices, the exchange rate, and other costs form part of the pricing structure used in determining local pump prices.