You should have given as the price of crude prices also

I understand that fuel business very well, there are no cartels, what ERC did in it's stupidity is try and control a freely competitive industry. Oil marketers make a gross margin of about 9-11 bob, From this they give fuel station owners 2-3 bob. The balance of 6-9 bob is used to run the business, meet storage costs, admin overheads, profits and very importantly cost of financing. Look at the inventory of an oil company and for the big ones you will find them with between 6B-13B of inventory mostly financed by overdraft. What is slowing price declines is crude - which has began to fall and importantly cost of debt. Total has been making losses because of finance costs for debt used to buy Caltex. Let CBK drop the CRB to below 12 and at current crude and exchange rate and you will have your fuel at 90. In the meantime we forget the government is making about 60 per litre in Excise duty, VAT and Roads levy. The latter two I understand the Excise which is about 38bob per litre is immoral. Fuel is a luxury like booze and can't be avoided why does GoK treat it that way. Consumers meanwhile are so fixated on oil marketers, yet even if they gave up 5 bob it wouldn't improve our lot much and importantly they would shut down. GoK needs to give up at least 60% of that excise. And btw I am not employed in the fuel industry nor do I gain anything from it besides buying shares..

meant fuel is not a luxury like beer and can't be avoided!

FINANCING COSTS my good old friend. Financing Cost!

So, do you believe that while the shilling went down by 27bob to the $ crude went up by the same margin?

My thinking is that to determine whether the prices should have go up or down we needed to know the prices of the crude prevailing at those 2 points.