#Their Fuel Price Reduction: The reality#

TECHNICALLY, Petrol will sell at N85/litre.

REALISTICALLY, Petrol will sell above N100/litre.

Even at the present pump price of N87, Nigerians have been buying petrol at between N130 and N300 per litre in the last two months.

To me, this announcement by the FG that petrol will sell at N85 per litre from January 1, 2016 is a deceit taken too far.

When you remove SUBSIDY, it means you have handed the determination of Petrol price to the market forces - what you buy is what you sell.

Therefore, fixing Petrol price after "Removing Subsidy" is a waste of time.

By the way, what happened to FASHOLA's position of DECEMBER 7, 2014 that petrol should sell at N50/litre when Crude oil price was $66.27 per barrel?

Now that Crude oil is less than $40 per barrel, shouldn't petrol price come down to at least N35/litre?



Lere Olayinka

Nigerians love deceit. At #87 we are not getting it and now after subsidy removal, you are trying to fix price...these guys are just jokers. The marketers will be somewhere laughing hard at this foolishness

One thing is for sure... WAILERS will NEVER support dis govt even if it brings down Heaven and BUHARIST will support dis govt for d slightes CHANGE.

So choose ur side

wachakuta:
One thing is for sure... WAILERS will NEVER support dis govt even if it brings down Heaven and BUHARIST will support dis govt for d slightes CHANGE.

So choose ur side

Fingered brain.
If you be woman guys go dey bang u always like a drum in church on sundays.

Smart talk

Na wa

ckmayoca:


Fingered brain.
If you be woman guys go dey bang u always like a drum in church on sundays.

Lol.. and u wey ur Brain is not manupilated guys de Bang u like drum every day too

Unfortunately, we live in a country where all critical information are left to government propaganda. Independent analysis by industry experts would be welcome.
---
For instance, what is "Price Modulation"? Why still FIX price, if subsidy has been removed?
---
On the comment by Fashola, you need to take into consideration that the official exchange rate was around N155/$ by then. With a higher exchange rate right now, the differential will affect price.

ckmayoca:


Fingered brain.
If you be woman guys go dey bang u always like a drum in church on sundays.

Lmao!
E pain d dude.

Bevista:
Unfortunately, we live in a country where all critical information are left to government propaganda. Independent analysis by industry experts would be welcome.
---
For instance, what is "Price Modulation"? Why still FIX price, if subsidy has been removed?
---
On the comment by Fashola, you need to take into consideration that the official exchange rate was around N155/$ by then. With a higher exchange rate right now, the differential will affect price.

sometimes, I feel like you are the most sensible person in this politics section. the way you analyse issues is quite impressive. I was about saying the same thing about Fashola's comment.

This is crafty. Please go back to basic economics.

I wonder why majority of Nigerians are so gullible they swallow everything they are told hook n sinker without contemplation.
this pump price reductions scam, its just as simple as this.

The sooner we see unrealistic this promise are the better we can deal with it.

At N85 per litre, I would gladly buy fuel from NNPC.

Who cares about Total, Mobil, FO and the others.