That country isn't independent .it's still a colony of sudan .they should have tabled that during referendum to free themselves from Sudan .

To answer the question. Even if oil traded at $0 per barrel, we would pay KES 50.00 per litre of petrol.
The KES 50.00 is made of of fixed costs which include government taxes, margins for oil marketing companies and distribution costs.

Im paraphrasing the ERC chair quoted in the standard yesterday.

Short answer. 50.00 For petrol

I believe Southern Sudan needs The Lamu Port Southern Sudan-Ethiopia Transport (LAPSSET) Corridor project to avoid the Sudan route.. the project will open up and spur economic growth for the region...@ dreams are valid!!

I think the key to watch is the US. Prices will stay low only if the US is satisfied with low prices. When US is dissatisfied with low prices you can bet they will cook up something even if it means declaring Saudi Arabia an axis of evil or suddenly there will be a coup in Angola or Iraq will invade Kuwait....... as in some big s*it will happen that will rock the market and prices will be up again.

Is it simple elementary mathematics challenges or @vvs you could not comprehend the figures in front of your eyes that you had to cook. Yes you are done with cooking, but the f@#kn shit thing is that the figure is approximately 10m$ daily or 3.600bs-$ annually or better said kshs360bn annually. That is equivalent to half of Kenya's commissioner of domestic taxes collections annually if my small brains have not forgotten the figures. Right before you and me, SS working for their better mortals. Unimaginable.
This is crazy. Slavery at its best. Macharia should truly work with Silvia or they gonna sell those nationals to the devil for a song. Yawa @obiero help your brother here. This is shit, no need of owning a oil field or even producing oil, just have a pipeline then sit down and watch your wallet fatten. {|= quot; quot;

Brent (Mar delivery) has dropped below $28 in trading on the ICE

Have equity bank staff resumed work? Calling for an adjustment by a factor of 6 was excessive despite the devaluation especially since it is not known whether the SSP may strengthen.. Adjusting pay into USD equivalent wld be sensible

Plus it's low quality [high sulfur] that only a few refineries can handle well so there's a limited market for it. Of course, the refineries can demand a lower price for the oil which does benefit us eventually but not as much (or fast) as we would like.

BTW, Brent trading on the ICE is not $30.58 so up 10% from the lows.

Brent up another 10% on ICE to 32.50 or so...

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."