Coolio wrote:Finally ERC has cut the fuel costs. Let's hope they won't hike in the coming few week.
Clearly; you don't understand how it's done.
Prices are changed ONLY on the 15th of the month. The announcements come out on the 14th.
BTW: It is wrong to say that "ERC has cut the fuel costs". It would be better to say that "Fuel prices have come down"
You see, even though it is the ERC that makes the announcement, the prices are determined by the prevailing market environment, mainly the price of crude and the KES/USD rate.
An agreed formula is used. All players (consumers and dealers) were invited to participate in its creation. I clearly remember we even discussed it here in wazua. (I'll get you the link)
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.