One would expect that the price per litre of petrol should have fallen to some N50/Litre or less by now, with the falling price of the barrel of crude oil all over the world. I read that gas/fuel prices are falling dramatically in the developed world.

What is stopping the FG from bringing the prices down, considering that this will have some soothing effect on already economically traumatised citizens of Nigeria?

The petroleum resources minister and president should please intervene.

^^ They continue to take us for fools. GEJ continues to disappoint even his most passionate supporters.

i ask is this the first time the price of the crude is dropping ..... Our leaders have never been fair and we the followers have decided not to say the truth to ourselves. History is there to be refered to...........tears i pray for this great nation

In the US and UK, gas (what we call fuel here) prices falls/rises almost with the price per barrel of crude. We are an oil producing country for heavens sake! When the prices were high, we, the citizens of this country did not enjoy a dime of all the wealth realised from the sales of crude oil. And now, are we not going to still benefit from the drop in the price per barrel of oil??

Please, how much is petrol selling for in your area?

ono:
In the US and UK, gas (what we call fuel here) prices falls/rises almost with the price per barrel of crude. We are an oil producing country for heavens sake! When the prices were high, we, the citizens of this country did not enjoy a dime of all the wealth realised from the sales of crude oil. And now, are we not going to still benefit from the drop in the price per barrel of oil??

Please, how much is petrol selling for in your area?

That's true, courtesy of whoever occupies Aso Rock.

Besides. the current occupier said 'he does not give a damn', how about that?

Yet, his blind folowers will never post a complain on this.

This issue is very important and should be on the FP, not for the purpose of bashing GEJ but because it is an issue worth discussing. Ngwakwe, wey you o!

Y'all can't have things both ways - as long as you insist on the FG subsidising petroleum products for our consumption then the price will not move freely with the oil price.

This is the time to call for deregulation - if y'all didn't decide to 'Occupy Nigeria' when some of us wanted deregulation to happen then we'd have seen a drop and less money coming out of our pockets by now.

By the way - cost price is nowhere near N50/litre so what exactly do you want? Low price? Fixed price? Cost price?

debosky:
Y'all can't have things both ways - as long as you insist on the FG subsidising petroleum products for our consumption then the price will not move freely with the oil price.

This is the time to call for deregulation - if y'all didn't decide to 'Occupy Nigeria' when some of us wanted deregulation to happen then we'd have seen a drop and less money coming out of our pockets by now.

By the way - cost price is nowhere near N50/litre so what exactly do you want? Low price? Fixed price? Cost price?

What subsidy?, anyway Nigerians deserve what befalls them subsidy ko subservient ni.

ono:
One would expect that the price per litre of petrol should have fallen to some N50/Litre or less by now, with the falling price of the barrel of crude oil all over the world. I read that gas/fuel prices are falling dramatically in the developed world.

What is stopping the FG from bringing the prices down, considering that this will have some soothing effect on already economically traumatised citizens of Nigeria?

The petroleum resources minister and president should please intervene.

How much is a litre of fuel in US and Europe petrol stations

Convert it to naira in order to get a possible reasonable price of fuel since we import refined fuel from these areas

7lives:


What subsidy?, anyway Nigerians deserve what befalls them subsidy ko subservient ni.

What subsidy? Are you aware of the cost price of providing refined petroleum products to you at the pumps compared to what you pay?

Or do you think 97 naira is the cost price of the petrol you're buying?

WhiteTechnology:



How much is a litre of fuel in US and Europe petrol stations

Convert it to naira in order to get a possible reasonable price of fuel since we import refined fuel from these areas

Not quite - in Europe especially there are high taxes (e.g. fuel duty) applied on petrol so that wouldn't necessarily be a good comparison. You'd have to deduct the tax portion before you can arrive at a reasonable estimate of what the price should be.

debosky:


Not quite - in Europe especially there are high taxes (e.g. fuel duty) applied on petrol so that wouldn't necessarily be a good comparison. You'd have to deduct the tax portion before you can arrive at a reasonable estimate of what the price should be.

I agree with you

But we can do a rough deduction to get a very good estimate

Jonatan enriching his cronies in so many ways. Nigerians have a chance to say no, no to corruption and clueless leadership.

Gej till 2014.

#sendgejtootoueke

When GEJ tried to expel subsidy from petroleum products, the corrupt ones benefiting from the subsidy used their media power to manipulate people. They deceived Nigerians that if fuel subsidy was removed, they will die. So Nigerians took to the streets in protest. Nigerians protested for days despite jingles and pleas from the government about the need to for subsidy to be removed. But Nigerians never gave a hood. They want subsidy. So the subsidy was brought back. The corrupt ones won.
But as it is in physics in the Law of Gravity; an object that goes up most come down under the force of gravity. So it is with market forces. This law exhibited itself in the oil market. International oil prices has since fallen to $55 dollars per barrel from about $180.
Now, assuming Nigerians allowed the government to remove fuel subsidy in 2012, prices of oil by now would have fallen and stabilize to reflect international prices. By now we would have been enjoying low prices of goods and services cutesy of low price of petroleum products. But we're not.
Who's fault is it? We Nigerians should blame ourselves.

We have a chance to do the right thing. We have a chance to support the government to remove fuel subsidy totally forever.

major466:
When GEJ tried to expel subsidy from petroleum products, the corrupt ones benefiting from the subsidy used their media power to manipulate people. They deceived Nigerians that if fuel subsidy was removed, they will die. So Nigerians took to the streets in protest. Nigerians protested for days despite jingles and pleas from the government about the need to for subsidy to be removed. But Nigerians never gave a hood. They want subsidy. So the subsidy was brought back. The corrupt ones won.
But as it is in physics in the Law of Gravity; an object that goes up most come down under the force of gravity. So it is with market forces. This law exhibited itself in the oil market. International oil prices has since fallen to $55 dollars per barrel from about $180.
Now, assuming Nigerians allowed the government to remove fuel subsidy in 2012, prices of oil by now would have fallen and stabilize to reflect international prices. By now we would have been enjoying low prices of goods and services cutesy of low price of petroleum products. But we're not.
Who's fault is it? We Nigerians should blame ourselves.

We have a chance to do the right thing. We have a chance to support the government to remove fuel subsidy totally forever.

When y'all want to lie, you should make sure your lie is watertight as opposed to this spoof I am reading here.

debosky:
Y'all can't have things both ways - as long as you insist on the FG subsidising petroleum products for our consumption then the price will not move freely with the oil price.
This is the time to call for deregulation - if y'all didn't decide to 'Occupy Nigeria' when some of us wanted deregulation to happen then we'd have seen a drop and less money coming out of our pockets by now.
By the way - cost price is nowhere near N50/litre so what exactly do you want? Low price? Fixed price? Cost price?

The problem is that I don't trust all the abracadabra arithmetic that is the Nigerian government and their officials' way of calculating stuff - in any case, I don't trust anyone in government in Nigeria. Sorry, this deregulation excuse will not cut it for a sound explanation, debosky. It's fraught with corruption and shady deals. I don't want to start digging up things to buttress my points on deregulation. No time.

All I know is that if the price of fuel is falling everywhere, why is Naija's fuel price still so high - more than N100 naira? We're producing oil in Nigeria. When the price was high, we didn't benefit anything as average Nigerians. Why can't we even feel anything at this time too?

The US no longer buy our oil. So, why not just bring it back and refine it at home and sell to our teeming populace? Endless questions.

ono:

The problem is that I don't trust all the abracadabra arithmetic that is the Nigerian government and their officials' way of calculating stuff - in any case, I don't trust anyone in government in Nigeria. Sorry, this deregulation excuse will not cut it for a sound explanation, debosky. It's fraught with corruption and shady deals. I don't want to start digging up things to buttress my points on deregulation. No time.

Well, if you don't want to get into the details the FG will continue to pull the wool over your eyes.

All I know is that if the price of fuel is falling everywhere, why is Naija's fuel price still so high - more than N100 naira?

No - fuel prices aren't falling everywhere. They are falling in countries where the government does not regulate and subsidise the cost of fuel. In countries like Egypt/India, the governments are cutting back the amount of subsidy and prices are remaining the same.

If we had a transparent government, they would be able to tell us how much subsidy payments have reduced since the oil price started dropping, and how this additional funds were going to be used elsewhere.

debosky:


If we had a transparent government, they would be able to tell us how much subsidy payments have reduced since the oil price started dropping, and how this additional funds were going to be used elsewhere.

Fair enough.

What I will like to see:

1. What Nigerians SHOULD have paid at the time when oil was going for >$100/barrel out there - and why Nigerians should pay that amount going by the fact that we have the stuff on our soil.

2. ''Official details'' of how much have acrued to government and other people involved in this shady business since the time oil price rose and fell to its present value. The thinking here is just as you put it up there - what have they done to reduce the plight of the average Nigerian with the lot they got when oil price was high?


It feels bad that we have witnessed several hikes in prices of fuel over the years, with governments of the day giving all manner of excuses for increasing fuel costs and harming the average citizenry's ability to live well.