Petrol price reduced to N87 but filling stations not complying
NaijaRock
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Posted by Felix Okoli on Tuesday January 20, 2015 at 11:48:16:
The Federal government of Nigeria has recently reduced the retail price of petrol in the country and this was to take effect as from midnight of January 18th 2015.Many rejoiced at it although some critics say that more could be done given that the price of crude oil exports has dropped by more than 50%. A reduction in petrol price by just 10% is a far cry from the just price. Nigeria's Minister of Petroleum Resources, Dieziani Alison-Madueke Allison Madueke made the price reduction announcement during a public address in Abuja at the state house.Since the announcement has been made, Nigerians have been glad and many have been seeking to buy fuel at reduced prices at the petrol station. The problem however lies in the fact that many petrol stations even in cities across Lagos and Abuja are still selling at the old price of N97 instead of the recommended N87.One funny trend is that some petrol stations still sell their fuel at N97 even after displaying the price as N87 on their price banner.I tried buying petrol recently at a Mobile filling station along Ojuelegba road Lawanson Surulere. The price displayed outside read N87 but when I reached the station to buy fuel, the pomp price was reading N97 and when I inquired why, they said that they would change it soon.I mean, it's not good to tell people on the outside that you are selling fuel at N87 but when they come inside, you turn around to sell it at N97. There are other petrol stations like that of Mobil which have not yet adhered to the new price even though they claim to by using fake displays on the outside.I still think that even at N87, the price is still to high relative to the rate at which crude oil price has reduced. The normal thing should have been a relative reduction in fuel price as a result of reduction in crude oil price since petrol is a product of crude oil.
Comments:
The Federal government of Nigeria has recently reduced the retail price of petrol in the country and this was to take effect as from midnight of January 18th 2015.Many rejoiced at it although some critics say that more could be done given that the price of crude oil exports has dropped by more than 50%. A reduction in petrol price by just 10% is a far cry from the just price. Nigeria's Minister of Petroleum Resources, Dieziani Alison-Madueke Allison Madueke made the price reduction announcement during a public address in Abuja at the state house.Since the announcement has been made, Nigerians have been glad and many have been seeking to buy fuel at reduced prices at the petrol station. The problem however lies in the fact that many petrol stations even in cities across Lagos and Abuja are still selling at the old price of N97 instead of the recommended N87.One funny trend is that some petrol stations still sell their fuel at N97 even after displaying the price as N87 on their price banner.I tried buying petrol recently at a Mobile filling station along Ojuelegba road Lawanson Surulere. The price displayed outside read N87 but when I reached the station to buy fuel, the pomp price was reading N97 and when I inquired why, they said that they would change it soon.I mean, it's not good to tell people on the outside that you are selling fuel at N87 but when they come inside, you turn around to sell it at N97. There are other petrol stations like that of Mobil which have not yet adhered to the new price even though they claim to by using fake displays on the outside.I still think that even at N87, the price is still to high relative to the rate at which crude oil price has reduced. The normal thing should have been a relative reduction in fuel price as a result of reduction in crude oil price since petrol is a product of crude oil.Comments: