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Nairaland Forum / Nairaland / General / Politics / Bloomberg: Nigeria Is Set To Reduce Her Fuel Pump Price To N62 Next Week (3573 Views)
Oil Firm Returns N62 Billion To NNPC Aftermath Crude Swap Deal Under Jonathan / NNPC To Announce 85 Naira Fuel Pump Price In January 2016 / Buhari Apologies To Nigerians Over Fuel Scarcity, Pump Price To Remain At N87 (2) (3) (4)
Bloomberg: Nigeria Is Set To Reduce Her Fuel Pump Price To N62 Next Week by jimi4us: 9:10am On Sep 12, 2015 |
"Rockets and feathers" OPEC nations drop fuel pump prices by 29% last week,according to a paper by the St Louis Fed. A $10 decline in the price of a barrel of oil is correlated with an approximately 29% decrease in the price of fuel. However, the price of fuel does not always change at the same rate. When oil prices shoot up, gas prices usually follow quickly, but when they drop, it takes longer for gas prices to follow. This is known as the "rockets and feathers" phenomenon. The most common explanation for that disparity is market power: Nigerian government and oil marketers take advantage of the drop to make more profit, and customers are already used to the higher prices. According to the Fed paper, gas stations with fewer nearby competitors are less likely to drop prices in line with oil, with Nigeria getting set to drop her fuel pump price by 29%, we are expecting a fuel pump price of N62 a liter. Iran________N 68. Eygpt_______N 67 Nigeria_______N 87 Kuwait_______N 39 Saudi Arabia___N 23 Venezuela_____N 7 http://www.bloomberg.com/visual-data/gas-prices/ 1 Like
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Re: Bloomberg: Nigeria Is Set To Reduce Her Fuel Pump Price To N62 Next Week by jimi4us: 9:11am On Sep 12, 2015 |
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Re: Bloomberg: Nigeria Is Set To Reduce Her Fuel Pump Price To N62 Next Week by Nobody: 9:13am On Sep 12, 2015 |
OP u r a liar... When has OPEC ever ever ever instructed on fuel pump price? Dude is preparing for a fake explanation to the new pump price when Buhari does it. For God's sake...when will you wailers start giving credit to Mr President for his hard work rather than looking for out-of-space explanations 4 Likes |
Re: Bloomberg: Nigeria Is Set To Reduce Her Fuel Pump Price To N62 Next Week by Nobody: 9:14am On Sep 12, 2015 |
I don't think Nigeria will drop pump price easily. There's the exchange rate issues which eroded the gains from drop in crude oil price. 4 Likes |
Re: Bloomberg: Nigeria Is Set To Reduce Her Fuel Pump Price To N62 Next Week by Segadem(m): 9:15am On Sep 12, 2015 |
OK let's see,next week is 168hrs away. 2 Likes |
Re: Bloomberg: Nigeria Is Set To Reduce Her Fuel Pump Price To N62 Next Week by legendboy(m): 9:16am On Sep 12, 2015 |
That Has been my prayer 1 Like |
Re: Bloomberg: Nigeria Is Set To Reduce Her Fuel Pump Price To N62 Next Week by fammo: 9:16am On Sep 12, 2015 |
I smell mischief somewhere......OP you are a suspect 2 Likes |
Re: Bloomberg: Nigeria Is Set To Reduce Her Fuel Pump Price To N62 Next Week by delishpot: 9:20am On Sep 12, 2015 |
How do they do it? |
Re: Bloomberg: Nigeria Is Set To Reduce Her Fuel Pump Price To N62 Next Week by phlemzy: 9:22am On Sep 12, 2015 |
Yay!!! This kind of news gives some people brain ache ooo!!! |
Re: Bloomberg: Nigeria Is Set To Reduce Her Fuel Pump Price To N62 Next Week by Henrypraise: 9:29am On Sep 12, 2015 |
soe: If d truth favours PMB u shout "Sai buhari" if d truth does not favour him u shout "wailing wailers" Common sense / reasoning, if Iran sell her oil, prices of oil will continue to fall n it will lead to a reduction in pump price but it will spell doom 4 nigeria as more civil servants will not be paid n more workers will be dropped. Pump price may even go to as low as 20naira, while u will be shouting "sai buhari" for pump price, u will be shouting "Jonathan killed d economie" wen dia will be no money to buy d fuel or to buy food. Non the less, Nigeria will be great. 6 Likes |
Re: Bloomberg: Nigeria Is Set To Reduce Her Fuel Pump Price To N62 Next Week by meimoks(f): 9:31am On Sep 12, 2015 |
Till then |
Re: Bloomberg: Nigeria Is Set To Reduce Her Fuel Pump Price To N62 Next Week by Nobody: 9:32am On Sep 12, 2015 |
If only this is true*** 1 Like |
Re: Bloomberg: Nigeria Is Set To Reduce Her Fuel Pump Price To N62 Next Week by meimoks(f): 9:32am On Sep 12, 2015 |
Henrypraise: You know it 2 Likes |
Re: Bloomberg: Nigeria Is Set To Reduce Her Fuel Pump Price To N62 Next Week by Chubhie: 9:38am On Sep 12, 2015 |
If APC has foreseen this trends, I bet they won't bother to have spent huge billions to lobby and conduct mere primaries talkless of billions of campaign funds squeezed from the tight pockets of state governments. That APC started watering down on campaign promises from day one shows sudden realisation to some rude awakenings. The best PMB can do now is to patch a leaking ship and bade his time hoping that some magical forces will come to his aid. We are at that point in our Republic where the President if he be honest should be chanting MAYDAY MAYDAY ALL ON BOARD SHOULD GRAB Life Vests cos Nigeria is beyond redemption. 4 Likes |
Re: Bloomberg: Nigeria Is Set To Reduce Her Fuel Pump Price To N62 Next Week by Sylvarresta(m): 9:50am On Sep 12, 2015 |
I pray o, I go happy |
Re: Bloomberg: Nigeria Is Set To Reduce Her Fuel Pump Price To N62 Next Week by sigmundfreud(m): 9:54am On Sep 12, 2015 |
For real? |
Re: Bloomberg: Nigeria Is Set To Reduce Her Fuel Pump Price To N62 Next Week by Nobody: 10:25am On Sep 12, 2015 |
Waiting for announcement Sai Buhari |
Re: Bloomberg: Nigeria Is Set To Reduce Her Fuel Pump Price To N62 Next Week by baralatie(m): 10:36am On Sep 12, 2015 |
Chubhie:I don't think so! I believe Nigeria has a very big chance of not being affected by oil price speculations or its dollar needs.if and only if PMB can seat up and take the opportunity but his not picking a formidable economic team and no advisers who can be said to be positive, result oriented personnel is not a good thing. 2 Likes |
Re: Bloomberg: Nigeria Is Set To Reduce Her Fuel Pump Price To N62 Next Week by Ayameze2015(m): 10:41am On Sep 12, 2015 |
Ok seen! Meanwhile, today is my birthday...... Nairalander's like this post to show me love. 1 Like |
Re: Bloomberg: Nigeria Is Set To Reduce Her Fuel Pump Price To N62 Next Week by Chubhie: 10:47am On Sep 12, 2015 |
baralatie:I don't see how PMB picking an economic team will make any noticeable difference save he picks men capable of original thoughts and not same ivy league beings whose pastime is lifting models and duping on nigerians without considering Nigerian uniqueness that no known model has ever worked on her. We may need to do the unthinkable and close all contacts with the world and find a Nigerian solution to all our problems. 1 Like |
Re: Bloomberg: Nigeria Is Set To Reduce Her Fuel Pump Price To N62 Next Week by baralatie(m): 10:55am On Sep 12, 2015 |
Chubhie:describe what you mean by your phrase" men of original thought" if these men don't understand 1,how economics and financial systems work 2,when it comes to presenting Nigeria's financial problems,resources will now employ OTHER ECONOMIC PROFFESSIONALS TO EXPLAIN TO THEM 3,they don't have Practical EXPERIENCE OF SOLVING AN ECONOMICAL PROBLEM. 1 Like |
Re: Bloomberg: Nigeria Is Set To Reduce Her Fuel Pump Price To N62 Next Week by Bevista: 10:55am On Sep 12, 2015 |
ok |
Re: Bloomberg: Nigeria Is Set To Reduce Her Fuel Pump Price To N62 Next Week by deanoffaculty: 10:56am On Sep 12, 2015 |
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Re: Bloomberg: Nigeria Is Set To Reduce Her Fuel Pump Price To N62 Next Week by baralatie(m): 10:59am On Sep 12, 2015 |
Chubhie:imagine if this was proposed as a economic solution.do you know the volume of catastrophic damage to Nigeria in 6 months alone. |
Re: Bloomberg: Nigeria Is Set To Reduce Her Fuel Pump Price To N62 Next Week by dhantey324(m): 11:56am On Sep 12, 2015 |
meimoks:U just said my mind |
Re: Bloomberg: Nigeria Is Set To Reduce Her Fuel Pump Price To N62 Next Week by brainchild78(m): 1:13pm On Sep 12, 2015 |
well if this is implemented it would be a welcome development by all Nigerians regardless of tribe, religion, and political association. |
Re: Bloomberg: Nigeria Is Set To Reduce Her Fuel Pump Price To N62 Next Week by 989900: 1:58pm On Sep 12, 2015 |
kITATITA: Exchange rates will have to improve for that to happen. |
Re: Bloomberg: Nigeria Is Set To Reduce Her Fuel Pump Price To N62 Next Week by Tongsman(m): 1:59pm On Sep 12, 2015 |
Waiting for the time it'll be officially announced |
Re: Bloomberg: Nigeria Is Set To Reduce Her Fuel Pump Price To N62 Next Week by gebest: 2:05pm On Sep 12, 2015 |
great |
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