Posted by Motoso
on January 24, 2009 at 09:32:38:
The FG recently slashed down the price of fuel to N65 and i thought i should talk about it. Reducing the price by only N5 to reflect the falling price of crude oil in the international market is a good strategy, but the margin is too small. I think the price should have been reduced to N20 since the price of crude oil literally crashed by about 75% from $145 to about $35 now. The price of fuel should have been reduced further or independent oil importers should have been allowed to set their price so as to ease the burden of this growing depression on us all. There seems to be inflation everywhere in nigeria with the naira falling. Why is the govt quick to increase the fuel price when it rises in the international market but will not likewise reduce it by the same amount when it falls?
Posted by Malizu
on January 29, 2009 at 07:02:44:
In Reply to: Fuel price slashed to N65 posted by
Motoso on January 24, 2009 at 09:32:38:
All filling stations are still selling at N70 and even Minister has said that the FG issued no such order for reduction of price in petrol. Who then reported it
Posted by Wilson
on February 06, 2009 at 02:11:27:
In Reply to: Fuel price slashed to N65 posted by
Motoso on January 24, 2009 at 09:32:38:
They should reduce the price even further. Nothing justifies the currrent price with the huge fall in oil price
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