Despite
importing
refined
petroleum
products due
to the failure
of its
moribund
refineries,
which have
gulped over
N4.15trillion
in
maintenance
since 2015,
oil-rich
Nigeria has
the eight
cheapest
petrol in the
world,
costing about
$0.40 (N166)
per litre,
according to
a report.
The report,
published by
Zutobi, an
international
driver’s
education
company with
courses in
the United
States, United
Kingdom,
Sweden,
Australia,
France and
Germany,
revealed that
the average
cost of a
gallon of
petrol in
Nigeria is
$1.82
(N755),
compared to
Hong Kong,
which has the
highest price
of petrol
anywhere in
the world at
$13.10
(N5,438) per
gallon and
$2.88 (1,195)
per litre.


The
Netherlands
is the second
most
expensive
place for
petrol around
the world,
costing
$11.75 per
gallon. This
is $5.69
more than the
global
average,
making it the
most
expensive
country in the
western
world.
At just $0.39
less than the
Netherlands,
Norway is the
third most
expensive
country for
petrol prices.
Norwegians
have to pay
$11.36 per
gallon on
average.

Other top 10
countries with
most
expensive
petrol prices
per litre are
Monaco
($2.49),
Zimbabwe
($2.35),
Denmark
($2.34),
Finland
($2.33), Italy
($2.31),
Germany
($2.30) and
Liechtenstein
($2.28).


Top 10
countries
with the most
affordable
petrol prices

Venezuela
ranks first as
it costs
$0.03 (N12)
per litre and
$0.11 (N45)
per gallon,
which is
$5.95
cheaper than
the global
average.
Libya comes
in as the
second
cheapest,
with the cost
per gallon
being only
$0.15 (N62)
while a litre is
$0.03.
Iran has the
third
cheapest fuel
price per litre
at $0.05
(N20), which
is
considerably
less than
Syria (the
fourth-
cheapest) at
$0.32
(N132).
Algeria
($0.32),
Kuwait and
Angola at
($0.35)
complete the
top seven
countries with
the most
affordable
petrol prices
per litre.
Kazakhstan
and
Turkmenistan,
where a litre
of petrol is
sold at $0.41
and $0.43,
respectively,
also made it
to the top
10.
The report
also
discovered
that Iran has
seen the
biggest
decrease in
petrol prices
anywhere in
the world
over the past
half decade.
Prices have
been slashed
by almost
3,000 per
cent while the
price of
petrol in
Saudi Arabia
has risen by
almost 300
per cent in
the last five
years, making
it the country
that has seen
the biggest
increase in
fuel prices in
the world.
Venezuela,
Libya and
Iran are the
only countries
where the
cost per
gallon of fuel
is less than a
dollar. On the
other hand,
Hong Kong,
the
Netherlands,
Norway and
Monaco are
countries that
have prices
of over $11
per gallon.


https://dailytrust.com/nigeria-has-8th-cheapest-petrol-in-the-world-report
mynd44 oam4j lalasticlala seun seunmsg

Good development, may we continue getting positive news not those killing killing stuffs like IPOB brutal killing of soldiers in the east side and Bokoboys/Bandits in the Northern side

When we say education is a major problem in Nigeria, people think it is an insult. This article compares the price of a gallon of petrol in USD across various countries and then concludes that petrol is cheap in Nigeria.

The growth rate of price in each country's local currency is the measure that shows whether Nigerians are facing more hardship than other countries.

that is in Nigeria's case: prices between 2015 and today
167-97= (70/97)*100 = 72.16% increase in price
In the United States case: prices between 2015 and today
3.8-2.4=(1.4/2.4)*100 =58.33%


This shows that prices have increased by about 14% higher in Nigeria than in the United States between 2015 and 2022.


growth rate formula
https://pages.uoregon.edu/rgp/PPPM613/class8a.htm


https://www.youtube.com/watch?v=M1owcncKCHg

The United States also does not pay subsidies petrol, as we do. The true price difference between the two countries is much larger. The primary reason for the difference is the fall in the value of the Naira.

As you can all see, our political Elites we’re saving their money in dollars that is why it is easy for them to buy 100 million Naira forms. The price of everything has gone up, but they do not care. Even the CBN governor wants to be president.