Falling crude oil prices raise hope of relief at the pump

Energy CS Opiyo Wandayi and PS Alex Wachira during a press conference at Kawi Complex on June 3 2026. [Edward Kiplimo,Standard]

Crude oil prices have fallen by more than 25 per cent, raising hopes for lower fuel prices in the country as a deal between the United States and Iran nears conclusion.

Following the announcement of a truce between the US and Iran at the beginning of the week, crude oil prices fell to nearly $70 (Sh9,170) per barrel, down from a high of over $100 (Sh13,000) in March.