Came across this article somewhere
"The highest price per barrel worldwide was about $140 ($140/barrel) around early 2014 and the price per litre (petrol) was about Ksh. 120 (Ksh. 120/litre). Now, the world prices have significantly dropped to $30 per barrel ($30/barrel). If we invoke simple algebra here, then the price per litre should not be more than Ksh. 45 per litre. One city in America which was charging about $4/gallon when the average world price was $140/barrel is now charging $1.60 per gallon (a 60% drop in the prices at the pump). Look at this:
If $140/barrel = Ksh. 120/litre
what of $30/barrel?
This computation returns a value of (120x30)/140 = Ksh. 26/litre (when adjusted for inflation and transportation costs, this should not be more than Ksh. 45/litre), which is equivalent to an average of 60% drop in prices at the pump worldwide {to be exact it is [(120-45)/120]x100=63%} . What is going on in Kenya is price gouging supervised by ERC. The petrol price per litre currently should not be more than Ksh. 50. Kenyans should demand access to information to know what has been going on at the ERC with regard to all the functions of ERC particularly the energy sector (energy products - gas, fuel, paraffin, electricity, etc.) and water services and pricing since ERC was formed. It has played with the minds of Kenya by reducing only 50cts, Ksh. 1.00 or Ksh. 2.00 per litre."