International oil prices decline ahead of EPRA’s November-December cycle review

International oil prices have declined ahead of the Energy and Petroleum Regulatory Authority’s (EPRA) review of fuel prices for the November–December pricing cycle.

TUKO.co.ke journalist Japhet Ruto has over eight years of experience in financial, business, and technology reporting, offering insights into Kenyan and global economic trends.

International crude oil prices have dropped sharply in the days leading up to Kenya's next scheduled fuel price review, raising expectations of possible relief for Kenyan consumers at the pump.

The Central Bank of Kenya (CBK) reported that Murban crude oil prices fell from USD 110.46 (KSh 14,360) per barrel on October 29 to USD 94.04 (KSh 12,225) per barrel on November 5, a decline of USD 16.06 (KSh 2,088) per barrel within one week.

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The CBK linked the drop directly to two developments: the conclusion of the United States mid-term elections and a reduced market expectation of supply disruptions originating from the Middle East.

Source: Tuko