Any extended rise in energy prices raises the possibility of higher petrol prices and increased gas and electricity bills, pushing up the rate of inflation. So far this year, weaker demand from China and ample supply from Saudi Arabia have acted to hold down oil prices.

Global oil prices have surged once again, but despite the upward trend, the Kenya shilling has held steady, maintaining stability against major foreign currencies, according to the Central Bank of Kenya (CBK).

Increasing geopolitical tensions and concerns about production levels have been fueling volatility in the energy markets recently. Click to read.