This is what the Nigerian government has never done since independence. What other evidence do we need to show that this government is not sincere.

Anticipated fuel price adjustments effective Wednesday, 4 January 2012

30 Dec 2011

The Department of Energy has approved the implementation of revised operating cost recoveries and investor margin into the price structures of petrol, diesel, illuminating paraffin and LPgas with effect from 4 January 2012.

Table 1

Petrol 93 ULP & LRP 6.000 cents per litre decrease in retail price

Petrol 95 ULP & LRP 5.000 cents per litre decrease in retail price

Diesel 0.05% Sulphur 21.000 cents per litre decrease in wholesale price

Diesel 0.005% Sulphur 20.000 cents per litre decrease in wholesale price

IlluminatingParaffin(Wholesale) 25.000 cents per litre decrease in wholesale price

IlluminatingParaffin(SMNRP) 33.000 c/l decrease in the Single Maximum National Retail price (SMNRP)

During the period under review, the average international product prices of Petrol, Diesel and Illuminating Paraffin decreased.

The average Rand/US Dollar exchange rate weakened when compared to the previous period. The average Rand/US Dollar exchange rate for the period 2 December 2011 to 28 December 2011 was 8.2122 compared to 8.1398 during the previous period. The deterioration of the Rand against the US Dollar increased the contribution to the Basic Fuels Price on petrol, diesel and illuminating paraffin by 5.31 c/l, 5.95 c/l and 5.84 c/l respectively.

The Single Maximum National Retail Price for Illuminating Paraffin for the period 4 January 2012 to 31 January 2012 will be 1 033.0c/l compared to 1 064.0 c/l for theperiod 7 December 2011 to 3 January 2012, that is a decrease of 33.00 c/l.

The maximum refinery gate price for LPgas will be R 7 857.60 per metric ton (436.09 c/l), excluding VAT, for the period 4 January 2012 to 31 January 2012.

Enquiries:
Johannes Mokobane
E-mail: johannes.mokobane@energy.gov.za / mediadesk@energy.gov.za
Tel: 012 444 4612
Cell: 082 766 3674

Issued by: Department of Energy
30 Dec 2011


http://www.info.gov.za/speech/DynamicAction?pageid=461&sid=24243&tid=52927

Responsive governance in play however yaradua once reduced the price of petrol i guess from 75naira to 65 naira.

@OP:
You post something that actually supports deregulation of the downstream sector of the petroleum industry as Government now seeks to do. To my knowledge there are no petrol subsidies in place in South Africa. . .so prices go up and come down with international market prices. A point which you missed:

deking:

During the period under review, the average international product prices of Petrol, Diesel and Illuminating Paraffin decreased.

The average Rand/US Dollar exchange rate weakened when compared to the previous period. The average Rand/US Dollar exchange rate for the period 2 December 2011 to 28 December 2011 was 8.2122 compared to 8.1398 during the previous period. The deterioration of the Rand against the US Dollar increased the contribution to the Basic Fuels Price on petrol, diesel and illuminating paraffin by 5.31 c/l, 5.95 c/l and 5.84 c/l respectively.

This portion of your post is exactly what PPPRA has done:

deking:

The Single Maximum National Retail Price for Illuminating Paraffin for the period 4 January 2012 to 31 January 2012 will be 1 033.0c/l compared to 1 064.0 c/l for the period 7 December 2011 to 3 January 2012, that is a decrease of 33.00 c/l.

The maximum refinery gate price for LPgas will be R 7 857.60 per metric ton (436.09 c/l), excluding VAT, for the period 4 January 2012 to 31 January 2012.

^The bolded portion above parallels:
Service providers in the sector are now to procure products and sell same in accordance with the indicative benchmark price to be published forthnightly and posted on the PPPRA website

So all that your post proves is that prices of petrol fluctuate up and down in South Africa according to the prices in the international market and the extant exchange rate. . .and that for the period from 4 January to 31 January, it will be a few cents less than for the preceding period of 7 December 2011 to 3 January 2011. Please explain how 4 January to 31 January became "South Africa Reduces Price Of Petrol For 2012"?

In future, now that the subsidy has been removed and the market deregulated, feel free to revisit this post and add that "Nigeria reduces price of petrol". By then it is hoped that funds freed up by the deregulation will have subsidized your education so that you will be able to read and understand a simple press release!

aletheia:

[size=18pt]By then it is hoped that funds freed up by the deregulation will have subsidized your education so that you will be able to read and understand a simple press release![/size]

daaang

Petrol price is regulated by the government which sets prices for the whole supply chain. It then increases or decreases the price every month depending on the international oil price and the Rand/Dollar exchange rate

The current petrol price with this months decrease of 6 cents is R10.43 = $1.28 per liter

aletheia:

@OP:
You post something that actually supports deregulation of the downstream sector of the petroleum industry as Government now seeks to do. To my knowledge there are no petrol subsidies in place in South Africa. . .so prices go up and come down with international market prices. A point which you missed:
This portion of your post is exactly what PPPRA has done:^The bolded portion above parallels:
Service providers in the sector are now to procure products and sell same in accordance with the indicative benchmark price to be published forthnightly and posted on the PPPRA website

So all that your post proves is that prices of petrol fluctuate up and down in South Africa according to the prices in the international market and the extant exchange rate. . .and that for the period from 4 January to 31 January, it will be a few cents less than for the preceding period of 7 December 2011 to 3 January 2011. Please explain how 4 January to 31 January became "South Africa Reduces Price Of Petrol For 2012"?

In future, now that the subsidy has been removed and the market deregulated, feel free to revisit this post and add that "Nigeria reduces price of petrol". By then it is hoped that funds freed up by the deregulation will have subsidized your education so that you will be able to read and understand a simple press release!

I will choose to ignore your rather unpleasant remarks as it shows that your intellect is lower than that of Jonathan. No-one ever said that deregulation isn't a welcomed idea; moreover you can't compare South Africa to Nigeria in any terms, while they are not an oil producing state, they have better infrastructure and a more investor friendly climate. We are a oil producing state, lack basic amenities and claim to want to deregulate to attract importers sorry importers. The point is clear our government has not been sincere with the presentation of the facts and figures around petroleum issues. This present government is no different - nobody with integrity duplicates efforts inorder to appeal to the emotions of the people.

@aletheia
there is no savings from subsidy removal because govt 'supposedly' borrowed to pay for the 'supposed' fuel subsidy. which savings is kept for education now? stop talking trash, coz even the govt does not have any road plan to divest the 'supposed' savings. so where is yours coming from? talking off an empty head?

diluminati:

@aletheia
there is no savings from subsidy removal because govt 'supposedly' borrowed to pay for the 'supposed' fuel subsidy. which savings is kept for education now? stop talking trash, coz even the govt does not have any road plan to divest the 'supposed' savings. so where is yours coming from? talking off an empty head?

^
Whatever. Both you and the OP should refund whatever money was spent educating you. Does the press release he's trying to spin show that South Africa Reduces Price Of Petrol For 2012

Obviously the fuel subsidy arguments are way above your comprehension hence you do not understand that whatever funds (borrowed or otherwise) that would have been used to subsidize your petrol habit will instead go to funding education etc. And do you see the word "savings" any where in my post? The term I used was precisely "funds freed up by the deregulation" Why don't a lot of Nigerians read and process what they read before venting off?

aletheia:

In future, now that the subsidy has been removed and the market deregulated, feel free to revisit this post and add that "Nigeria reduces price of petrol". By then it is hoped that funds freed up by the deregulation will have subsidized your education so that you will be able to read and understand a simple press release!

Clearly just as the OP did not understand what he was posting; you as well do not understand what I wrote in simple English.

Sorry Mr alaetheia r u for or against fuel subsidy in nigera? just curious

^
What do my words below tell you?

aletheia:

. . .now that the subsidy has been removed and the market deregulated

I am 100% in support of the government on this one. This two links below articulate the reasons why I am for it. The fuel subsidy is a black hole of corruption. A significant amount of the corruption in Nigeria is Oil-industry related. The real struggle should be about forcing government to be more open and transparent and to tackle corruption headlong. If you want to "Occupy" Nigeria for that, count me in but if it is to sustain the murky corruption-infested regime of petrol subsidy. No way.

http://www.elombah.com/index.php?option=com_content&view=article&id=9323%3Aanother-view-removal-of-subsidy-is-good-for-nigeria&catid=25%3Apolitics&Itemid=92

https://docs.google.com/viewer?a=v&pid=explorer&chrome=true&srcid=0B9AHFUuIVo8rNzBmZTRjNDgtZjNhYS00OTZiLTgyYWItOTEyZGM2MWM5MWEx&hl=en_US

Even if I did not support the move, it doesn't mean i should come online and spin a press release that so obviously doesn't say what the OP is trying to make it say.

^^
Thanks 4 d answer but. . .u would go any length 2 support dat slowp.oke of a man called jona.Unfortunately,u sound like one of 'em well fed abuja dudes whom subsidy or not,are having their account swell and thus r cut out of d reality d poor man who lives on less dan a $ a day faces. . .besides u got it all wrong.u think if fuel subsidy ends d cabals r eliminated?unfortunately,this is just transfer of subsidy 2 d poor man

Where are the gains from subsidy removal now?