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Crude Price Down By 35% Petrol Still Selling For 97naira - Politics - Nairaland

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Crude Price Down By 35% Petrol Still Selling For 97naira by tommysparks: 12:02am On Nov 18, 2014
It has been more than 3 months now since international crude prices fell by more than 35% from 110-86 dollars per barrel of crude but pump price of petrol, diesel and kerosene is still the same and marketers are still collecting same amount of subsidy from govt. Is the fuel being sold on our pumps refined from some other crude oil? Am using this medium to call on all Nigerians to prevail on fuel importers and govt to reduce price of petrol, diesel and kerosene. Hit like and share if you support this call.

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Re: Crude Price Down By 35% Petrol Still Selling For 97naira by gentleoyink: 12:25am On Nov 18, 2014
Nigeria sells crude ok. That the price of crude has fallen means that less revenue is coming to the Federal Government from Crude Oil sales. Unlike you have suggested in your post, the FG should be too broke to pay subsidy and this should reflect in increased fuel price Not the other way round.

Although we do not pray for such a situation.

NB I also understand where you are coming from, because we import petrol and other refined crude products, the reduced price in crude should reflect in reduced price of petrol and other products. Is that what is obtainable the world over?

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Re: Crude Price Down By 35% Petrol Still Selling For 97naira by Nobody: 12:25am On Nov 18, 2014
Hopefully, the government will see to it soon
Re: Crude Price Down By 35% Petrol Still Selling For 97naira by StealthyMe(m): 2:15am On Nov 18, 2014
Sir,fuel price in Nigeria is anti-gravity grin grin

It only goes up...never comes down


With the exception of some little conditions

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Re: Crude Price Down By 35% Petrol Still Selling For 97naira by tommysparks: 7:13am On Nov 18, 2014
gentleoyink:
Nigeria sells crude ok. That the price of crude has fallen means that less revenue is coming to the Federal Government from Crude Oil sales. Unlike you have suggested in your post, the FG should be too broke to pay subsidy and this should reflect in increased fuel price Not the other way round.

Although we do not pray for such a situation.

NB I also understand where you are coming from, because we import petrol and other refined crude products, the reduced price in crude should reflect in reduced price of petrol and other products. Is that what is obtainable the world over?
the fg is supposed to be in a win win situation cos if importers now bring in fuel below the benchmark for paying subsidy then the fg can withdraw subsidy payment to include the money into the federation account and make up for the revenue shortfall on crude sales such that the loss in revenue would be minimally felt,

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