₦airaland Forum

shikaan:
Why are you attacking me personality? Where did i say i know all. Simple thing for you was to check if there was any truth in my judgement, which u dint.
If subsidy had been removed, the prices will fall automatically because the price is determined by market forces... its as simple as that.. i dont expect u to understand it sha. because u are going to be part of GMB's deligation to stabilize the oil market.

According to the article there is currently no subsidy on diesel, why has the price of diesel not reduced, or may be yo didn't read the article.

shikaan:
Why are you attacking me personality? Where did i say i know all. Simple thing for you was to check if there was any truth in my judgement, which u dint.
If subsidy had been removed, the prices will fall automatically because the price is determined by market forces... its as simple as that.. i dont expect u to understand it sha. because u are going to be part of GMB's deligation to stabilize the oil market.

At the moment, our fuel is not being subsidized I hope u know that? And even fuel subsidy in the first place was fraudulent because it didn't take into account the fuel being refined by our refinaries! Subsidy was on imported fuel. Secondly, can u see the price disparity between crude oil's current price, and the subsidy price? So, if u deduct subsidy from d current price of crude, there is enough room 4 pms price to drop. GEJ government is punishing Nigeria with the old price of pms just so they can sustain the economy by making up for their wastage, greed and looting during the oil boom. If they drop d price of pms, the FG might go broke. That's the simple truth.

lol

Code213:
At the moment, our fuel is not being subsidized I hope u know that? And even fuel subsidy in the first place was fraudulent because it didn't take into account the fuel being refined by our refinaries! Subsidy was on imported fuel. Secondly, can u see the price disparity between crude oil's current price, and the subsidy price? So, if u deduct subsidy from d current price of crude, there is enough room 4 pms price to drop. GEJ government is punishing Nigeria with the old price of pms just so they can sustain the economy by making up for their wastage, greed and looting during the oil boom. If they drop d price of pms, the FG might go broke. That's the simple truth.

GBAM...The same argument I gave someone on this matter

Kenya doesn't have a refinery and is an importer of refined products I.e petroleum, kerosene, diesel Wich makes it have a lag time of about 3 months, when the price of crude oil drops and just yesterday, the price of furl dropped to the lowest since 2010. petrol last July was 117 now it's 90, kerosene was 81 now it's 62, and the ERC energy regulatory commission. a government agency responsible for fairly regulating pump prices has said the lag time has not reached so by the next two months when they review the prices, it's expected to Gordon further