₦airaland Forum

Crude oil price has fallen about 50% over the last few months yet petrol pump price still remains the same. The cost of the raw material ( crude oil) from which petrol is gotten has fall ( cost of processing still the same ), one expects that consumers should benefit from the drop in price of raw material. Prices are going down in other climes. 9ja should not be different.
Lets say it drops by say 30%, that about 68 naira per littre. This will reflect in other commodities.
Lets them tell us something na. We re waiting

This Xmas must groove. Pump price need to go down. I remember that the price of crude oil was one of the reasons Government gave when hiking the price. They should drop it now. Abi?

Lets talk about this till the authorities answer us.

The effect of the devalued naira could be lessened by a corresponding reduction in pump price of petrol occasioned by drop in price of crude oil.

Are you a learner? You are in a country called Nigeria where commodities go up and never come down.

If the Fed govt had been allowed to fully remove subsidy we would been buying petrol for as low as N50/litre by now.

lonelydora:
Are you a learner? You are in a country called Nigeria where commodities go up and never come down.

Here we go: This CAST mindset must be done with. Anything applicable anywhere else in the world can happen here too.
Check these out
1. During the military junta, many never thought that we will be rid of them, talkless of a southerner having sway. We know better now
2. When the late president was sick, the civil society stood their ground and paved way for his vice to act. Alot of people never believed that it will happen.
My dear power belongs to the people. They only have to acknowledge it

Today crude oil sells for below 65 dollar from about 100. This drop should show in pump price. "Make them tell us why price no go fall"

They have given us their position finally
https://www.nairaland.com/2043172/why-fg-reluctant-reduce-petrol
His this tenable?

Finally a reduction in pump price. This is economics. Things can come down in nigeria too. We just have to believe and push for it if tbe govt refuse to be proactive. I posted dis sometime ago and was shocked that many of us did not even respond, while others doubted it. Anyway petrol will now sell for 87 naira per litre.

nankosa:
Finally a reduction in pump price. This is economics. Things can come down in nigeria too. We just have to believe and push for it if tbe govt refuse to be proactive. I posted dis sometime ago and was shocked that many of us did not even respond, while others doubted it. Anyway petrol will now sell for 87 naira per litre.

My brother, that is good but I suspect a foul play with election less than days.
I also expect it to go down at least by 25% to 50%.

Flye:
My brother, that is good but I suspect a foul play with election less than days.
I also expect it to go down at least by 25% to 50%.

Foul play notwithstanding, there is a change in trend. Expect more drop in price