Despite the recent 68 per cent hike in petrol price, Nigeria’s retail pump price of N145 per litre of petrol ranks among the lowest in the world.
A review of retail prices of petrol in 175 countries shows that Nigeria has the 13th least petrol price at approximately $0.50, or N145 per litre, according to GlobalPetrolPrices.com.
Kuwait has the lowest petrol price in the world, at $0.21 or N61.37 per litre.
The world’s costliest petrol prices are found in Hong Kong (N535.38 per litre), Norway (N490.19) and Iceland (N474.76).
Most countries with the lowest petrol prices belong to the 14-member Organisation of Petroleum Exporting Countries (OPEC), namely Kuwait, Saudi Arabia, Algeria, Qatar, Iran, Ecuador, United Arab Emirates, Nigeria, Indonesia, Venezuela, Iraq, Libya, Gabon and Angola.
But when it comes to the price of fuel, Nigeria’s standing is not so impressive in OPEC and Africa.
Of 14 OPEC countries reviewed, Nigeria has the sixth most expensive rate.
Also, despite Nigeria’s reputation as Africa’s biggest producer of hydrocarbons, petrol is cheaper in Algeria than in Nigeria.


Petrol sells for $0.28, or N80.94 per litre, in that North African country.
In Africa generally, the fuel sells for the highest rate in Zimbabwe, at N371.70 per litre.
Fuel hike
Nigeria’s latest fuel price raise in May 2016 was as usual met with resistance from the organized labour. Eventually, the government prevailed.
Many Nigerians argue that as a top producer of oil and gas, Nigeria has no business selling petrol to his citizens at exorbitant rates.
The government says its fuel subsidy programme that drove the price down had been abused and was fueling massive corruption.
Part of the corruption sees marketers and dealers smuggling subsidized fuel into nearby countries where they sell at higher prices.
Data from GlobalPetrolPrices.com shows that all the countries bordering Nigeria, particularly in the Economic Community of West Africsn States (ECOWAS), have some of the highest fuel prices.
Some of Nigeria’s neighbours include Cameroun, where petrol is sold at N308.77 per litre; Burkina Faso (N354.51), Gambia (N347.84), Senegal (N336.40), Mali (N328.17), Guinea (N280.89), Ivory Coast (N275.89), Ghana (N260.90), Niger (N255.80), Liberia (N240.17), Togo (N218.78), Chad (N219.71), and Sierra Leone (N191.28).

http://www.premiumtimesng.com/news/top-news/208058-despite-recent-hike-nigerias-petrol-price-13th-lowest-world.html

Wow , couldn't believe this. Then why are we Whining you ungrateful people ?

Oya clap for unaself.. 144naira per litre in an oil producing country

What does una Dollar rate say about una?
Always celebrating irrelevant things..

Yeeeeee!! We are working..

Unfortunately for you, OP, we are not in any of these country. Nigeria is Unique. The earlier you digest that, the better your understanding.

edoyad:


Wow , couldn't believe this. Then why are we Whining you ungrateful people ?

We are whining because with the country's per capita income (PCI) the hike is burdensome.

Now, if perhaps, those in the Scandinavian and other first world nations spend much more than we do on fuel, they might not grovel like we do; not because they are more accepting than we are, but because with their GDPs and PCI, it won't be considered as a big deal to them. Unlike us, they would be able to afford it without breaking a sweat

That's just what me thinks.

.

yet d rate of suffering in d con3 has trippled in d last one year. expect an increase in prices of fuel n kerosine soon.
u will never see david west on dis issue.

APC indirectly telling us that they want to increase fuel price

AFONJAS come and defend your master

drss2:
yet d rate of suffering in d con3 has trippled in d last one year.

It tripled cos we are used to cheap fuel and cheap imported goods.Workers in Burkina Faso, Guinea , Ghana , Zimbabwe etc earn less than Nigerian workers but they still buy fuel at over 200 Naira.

why wont it be lowest when mr dullard had devalue our naira to #400. ndi ara

Premium Times, One of the faithful APC media propaganda outlet.

edoyad:


It tripled cos we are used to cheap fuel and cheap imported goods.Workers in Burkina Faso, Guinea , Ghana , Zimbabwe etc earn less than Nigerian workers but they still buy fuel at over 200 Naira.

they may spend more dan nigeria on fuel but how much do they spend on basic needs like food, clothing, n shelter some of d con3s u quoted have better infrastructure dan nigeria. by d time u do a cost analysis of critical infrastructures such as power, transportation like railway lines (like d ones in zimbabwe) etc, u will discover dat d cost of living in those countries is a bit lower dan d cost of living in nigeria.

Nigeria's Problem.
nigeria is were it is today because:
1. nigeria's failed economic structure. unless nigeria is restructured towards confederacy, d con3 will never develop.

2. nigerian govt value oyel more dan human beings. in oda words, they value natural resources more dan human resources. any con3 dat values natural resources at d expence of human resources development will NEVER develop.

Buhari a.k.a General Cassandra is planning to increase fuel price again

Did they do this calculation under GEJ? When fashola and other Yoruba muslims said petrol was supposed to be N40 per litre.

Very idiotic comparison,
500naira in Norway or Hong Kong will not buy you a plate of food at a cheap restaurant or even transport fare to work ,
Minimum wage in Norway starts from $12 an hour and rises higher depending on your skills and industry you are working in,
So someone in Norway can easily spend 500naira(which is not even upto $2 now), without blinking an eyelid,

Remember,
Our minimum wage down here is 18k a month,
And many are paid even lower than that.
So we share nothing in common with those countries.

hungryboy:
Very idiotic comparison,
500naira in Norway or Hong Kong will not buy you a plate of food at a cheap restaurant or even transport fare to work ,
Minimum wage in Norway starts from $12 an hour and rises higher depending on your skills and industry you are working in,
So someone in Norway can easily spend 500naira(which is not even upto $2 now), without blinking an eyelid,

Remember,
Our minimum wage down here is 18k a month,
And many are paid even lower than that.
So we share nothing in common with those countries.

Then what is the Minimum wage in Guinea, Burkina Faso, Ghana , Zimbabwe etc since those are the countries around us ?

sCun:
Did they do this calculation under GEJ? When fashola and other Yoruba muslims said petrol was supposed to be N40 per litre.

That is my own grouse with this govt. When they were in opposition they totally rejected removal of subsidy now they're going ahead with it.

chocolateme:
Oya clap for unaself.. 144naira per litre in an oil producing country

What does una Dollar rate say about una?
Always celebrating irrelevant things..

Yeeeeee!! We are working..

how many do you refine

Hmmm wailers and zombie like while are they comparing us.. Is the minimum wage the same?So...

mikolo80:
how many do you refine

RIP English Language..

That's how you fail waec
Simple question na off point you de talk

The senseless apc government.

A government without direction.