theysg:


You ask a question about market force and I answered you, whatsoever you have about 120$ per barrel, please go ahead and educate me.

Take for instance nnpc sale crude oil to dangote at a price of $120/barrel, what it implies is that dagote will have to increase his price. What the federal government is gaining is the landing cost and the subsidy removed

Blaze14k:


So if we have alot of importers do you think the fuel price will drop as low as 200? And what happens when there increase in cost of crude oil per barrel. Oya explain mr intelligent. Most of u dumb Bleep dont do your home work before coming to attack me

I'm sorry to say, you still came out unintelligent with your comeback. Never ever heard that a single marketer or manufacturer could influence price in a market competition. Fact that you pegged the price at #200 is an indication that you don't understand the dynamics of price mechanism but only trying to sound enlightened. The competition in the sector alone, will force aggregate supply to exceed demand while that will force price to drop in the long run, I guess you still won't comprehend. Waiting for you to quote for further explanation. By the way, stop feeling cool in your folly.

FireUpNow:
Las las petrol will sell for N1,000 and above. Nigerians don enter one chance for allowing babablublu to come in.

Child of 8 with absolutely no knowledge of Economics.

Blaze14k:


Take for instance nnpc sale crude oil to dangote at a price of $120/barrel, what it implies is that dagote will have to increase his price. What the federal government is gaining is the landing cost and the subsidy removed

How that one take concern market force?

casualobserver:


Go and read up on Venezuela and what subsidy has done to them. They have the most oil reserves in the world (more than Saudi) , their petrol is the cheapest in the world thanks to subsidies and 97% of the population lives in poverty. That’s the path Nigeria was on. It’s no coincidence we became the poverty capital of the world in the last 12 years under the subsidy regime.

No point in arguing with you anyway. Subsidy is gone and it ain’t coming back, if you like strike, when hunger catch all of una nobody will tell you to buy petrol or buy a bicycle and go to work.

keep shut oga.

Peppysco:


Child of 8 with absolutely no knowledge of Economics.

I was told that it takes a child of 8(hate) to identify another! Any we shall see the
knowledge of economics as time goes on. Records have it that anytime the FG do upward review of pms it never comes down and the gain they promise the masses never comes to fruition. We are observing

Peppysco:


I'm sorry to say, you still came out unintelligent with your comeback. Never ever heard that a single marketer or manufacturer could influence price in a market competition. Fact that you pegged the price at #200 is an indication that you don't understand the dynamics of price mechanism but only trying to sound enlightened. The competition in the sector alone, will force aggregate supply to exceed demand while that will force price to drop in the long run, I guess you still won't comprehend. Waiting for you to quote for further explanation. By the way, stop feeling cool in your folly.

You still dont get my point. If crude oil is sold at $120 per barrel that is the price at international level so whether its dangote or fuel importer definitely the price of pms will go up. Is that so difficult for u to understand. Its actually the subsidy paid that helps to stabilise the price.

When oil prices rise costs for production and transportation rise which decreases supply at a given price. If oil prices fall, production and transportation costs fall, so more can be produced at a given price. Simple as abc and u speaking big grammar to confuse yourself

theysg:



How that one take concern market force?

Ive this question before and i will ask again.. what happens when the price of crude oil go up?

Blaze14k:


Ive this question before and i will ask again.. what happens when the price of crude oil go up?

That's not the main question

The main question is, what makes crude oil price go up?

Blaze14k:


You still dont get my point. If crude oil is sold at $120 per barrel that is the price at international level so whether its dangote or fuel importer definitely the price of pms will go up. Is that so difficult for u to understand. Its actually the subsidy paid that helps to stabilise the price.

When oil prices rise costs for production and transportation rise which decreases supply at a given price. If oil prices fall, production and transportation costs fall, so more can be produced at a given price. Simple as abc and u speaking big grammar to confuse yourself

Mr., I honestly shouldn't be responding to you anymore, you don't grab basic Economic principles. By you statement, 'if crude oil is sold at $120 per barrel' shows that you still don't understand that no single marketer can dictate his price in the market system. Therefore, nobody can determine or fix the price except the market forces. The world economy is speedily moving away from crude oil, Tesla vehicles and other electronic automobiles and devices are seen everywhere in the world, even in top Nigerian cities. Yet, you think or expect crude oil price to keep rising, when there are many alternatives now, bro, you need to go back to school. During Obasanjo's administration, crude oil sold for around $124 per barrel but gradually fell under GEJ to less than $70. That's to tell you that the more alternative the world has for crude oil, the lower the price cos of less demand. The present increase in price in the world oil market wouldn't be if not for the Russia v Ukraine war, of course, I don't expect you to understand. Please, only quote me when you have reasonable points to argue with, thanks.

Blaze14k:


Ive this question before and i will ask again.. what happens when the price of crude oil go up?

You're being schooled here and there and you think all of us saying the same thing are dafts abi, reason why I will never think education is expensive.

FireUpNow:

I was told that it takes a child of 8(hate) to identify another! Any we shall see the
knowledge of economics as time goes on. Records have it that anytime the FG do upward review of pms it never comes down and the gain they promise the masses never comes to fruition. We are observing

You'll need to go back to SS2 to learn about price mechanism in order to understand the topic posted here. I'm not going offer free education to any child of 8, cos he/she doesn't deserve it.

Peppysco:


Mr., I honestly shouldn't be responding to you anymore, you don't grab basic Economic principles. The world economy is speedily moving away from crude oil, Tesla vehicles and other electronic automobiles and devices are seen everywhere in the world, even in top Nigerian cities. Yet, you think or expect crude oil price to keep rising, when there are many alternatives now, bro, you need to go back to school. During Obasanjo's administration, crude oil sold for around $124 per barrel but gradually fell under GEJ to less than $70. That's to tell you that the more alternative the world has for crude oil, the lower the price cos of less demand. The present increase in price in the world oil market wouldn't be if not for the Russia v Ukraine war, of course, I don't expect you to understand. Please, only quote me when you have reasonable points to argue with, thanks.

From your analysis it simply means you have no clue of what ur talking about. The knowledge you intend to tap is so vast u cant explain it.

Ok since you want to go there lemme ask u simple question how many electric do think there is at the moment? And how many of them do u think there is in Nigeria? Does the ratio surpass number of cars that run on fuel?

Lets use nigeria as a case study

Do you think nigeria is ready for electric cars and if so how would you power ur cars when you dont have constant electricity.

When you go to china Tesla is rated 6th or 7th most populous cars so who are the current consumers of electric cars if not the United states?

Yes we have electric cars buh dont even use that as an excuse cos fossil fuel is going nowhere. Besides there are so many disadvantage of drivinf an electric car. Until those issues are looked into electric cars cant compete in the market.

Peppysco:


You're being schooled here and there and you think all of us saying the same thing are dafts abi, reason why I will never think education is expensive.

Honestly you have no idea of what your talking about

Blaze14k:


Some of you who support tinubu are so unintelligent. What this implies is the importers will determine the price of the market including dangotes refinery

So? Who determines the price fufu? Is it the federal government?

Peppysco:


You'll need to go back to SS2 to learn about price mechanism in order to understand the topic posted here. I'm not going offer free education to any child of 8, cos he/she doesn't deserve it.

no need for going back to SS2. You that is a professor of economics we shall see how knowledgeable you are in price mechanism with time. How many refineries do we have in this country and how many are working? Are you people depending on Dangote refinery? Y'all are making me to laugh. Who needs your education professor of economics from Havard? Una eyes go clear very well.

LagosBoi2:
Majority agrees that subsidy regime needs to go but my concern here is that, if they say refining locally will not bring down the price of petrol significantly i.e dangote and getting our local refineries to work, if other companies starts importing too taking away NNPC's market monopoly, that too will not bring it down significantly, what then will bring down the price of petrol significantly? Already Buhari has borrowed heaven and earth. Buhari has truly set traps for Tinubu. He will have to prove his brilliance once again in this difficult task ahead. May God help Him

The only major thing that will bring it down is if the price of oil crash internationally for a long time!

ironheart:
After pegging the price so high to favour your paymasters. Its sad that subsidy had already been paid for until the end of june. Why are we so evil in this country?

Who told you it WAS paid?

We are yet to pay for January-May 2023 sef!

Blaze14k:


From your analysis it simply means you have no clue of what ur talking about. The knowledge you intend to tap is so vast u cant explain it.

Ok since you want to go there lemme ask u simple question how many electric do think there is at the moment? And how many of them do u think there is in Nigeria? Does the ratio surpass number of cars that run on fuel?

Lets use nigeria as a case study

Do you think nigeria is ready for electric cars and if so how would you power ur cars when you dont have constant electricity.

When you go to china Tesla is rated 6th or 7th most populous cars so who are the current consumers of electric cars if not the United states?

Yes we have electric cars buh dont even use that as an excuse cos fossil fuel is going nowhere. Besides there are so many disadvantage of drivinf an electric car. Until those issues are looked into electric cars cant compete in the market.

You don't understand economics at all. That guy is just wasting his time answering you. The guy is talking about a development in International Market which affect crude oil demand and price in International Market you are talking jargon. I cannot join your discussion.

babaolofin:


You don't understand economics at all. That guy is just wasting his time answering you. The guy is talking about a development in International Market which affect crude oil demand and price in International Market you are talking jargon. I cannot join your discussion.

Honestly you guys are so out of it. I have nothing to say to you either. You have no single clue on the importance of crude oil globally. Go check your statistics properly. Do some research and stop assuming. Non of you have been able to come up with any tangible stats to back up your stupid assumption. Go do your research properly and stop talking trash

Riba