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Oil cost’s seven-year high sparks supply fears

Fuel pump

Fuel attendant holding a fuel pump at a filling station along Kimathi Street in this picture taken on June 8, 2021.

Photo credit: Jeff Angote | Nation Media Group
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By  Kevin Rotich

Global oil prices rallied to a seven-year high on Thursday, signalling more pressure on Kenya that has for months splashed billions of shillings in subsidy to soothe public outrage over expensive fuel.

Oil prices struck $90 (Sh10,218.60) a barrel on Thursday, market reports showed. This was amid tensions between Russia and western nations over threats on Ukraine by Kremlin.

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