Prices of Murban crude on the global market have climbed to highs last seen in October last year, setting up Kenyans for a rise in the cost of fuel after a short season of decline that started in December.
A barrel of Murban crude was selling at a five-month high of $90.61 (Sh11,531.50) by Tuesday this week, the highest level since $91.57 (Sh11,650.93) per barrel posted in October last year. Brent crude rose to $90.57 (Sh11,520.64) from $90.45 (Sh11,505.38) in the same period. The Energy and Petroleum Regulatory Authority (Epra) uses Murban prices as the benchmark in its monthly pricing cycle.
