Kenyans and several countries staring at a possible fuel crisis have received temporary relief after the United States announced emergency measures aimed at stabilising global oil prices and supply. The announcement followed concerns that escalating geopolitical tensions in the Middle East could disrupt global energy supply chains and trigger sharp increases in fuel prices across import-dependent economies such as Kenya. According to the statement, the countries will jointly release about 400 million barrels of oil and refined products from their strategic reserves in a move requested by President Donald Trump to lower global energy prices. The move is expected to ease global supply concerns at a time when fears of disruption in the Middle East had begun triggering speculation over a potential spike in fuel prices and transport costs worldwide. The emergency intervention comes as tensions around the Strait of Hormuz, a crucial global oil transit route, intensify following threats by Iran to close the strategic passage amid the ongoing conflict in the region.

Source: Daily Nation March 12, 2026 16:36 UTC