Good day everyone, I just noticed that they have been an increment on fuel prices in the stations over here they are now selling 150 per litre.

How about your location, have they been an increment yet? Kindly say so

I notice that too.

I only noticed that 1k fuel no dey full as e suppose.

Vicboi1:
Good day everyone, I just noticed that they have been an increment on fuel prices in the stations over here they are now selling 150 per litre.

How about your location, have they been an increment yet? Kindly say so

I bought at N148 yesterday and NNPc station along ikorodu, Lagos.

What's your location?

yomi007k:


I bought at N148 yesterday and NNPc station along ikorodu, Lagos.

What's your location?

Owerri , imo state seems they have increased it because it was 143-145

You better get use to it. Government is no longer paying subsidies, there will always be increment anytime the prices of crude oil increase at the international market until we can refine locally. I expect a litre of PMS to get to 200 naira before the end of 2020

Next level

Vicboi1:

Owerri , imo state seems they have increased it because it was 143-145

Yea...i got it last week at 143

Those programmed APC Zombies will stay away from this thread,we all will suffer it

JAMO84:
You better get use to it. Government is no longer paying subsidies, there will always be increment anytime the prices of crude oil increase at the international market until we can refine locally. I expect a litre of PMS to get to 200 naira before the end of 2020

Correction...so long as government sets the price, there is a subsidy.

If government was really serious about subsidy removal, there would be no need for price setting

But this is not what I was told when I was voting for them in 2015 and 2019.

kikero:


Correction...so long as government sets the price, there is a subsidy.

If government was really serious about subsidy removal, there would be no need for price setting

There's a big difference between subsidy and regulation

yomi007k:


Yea...i got it last week at 143

Its increasing then

JAMO84:
There's a big difference between subsidy and regulation

No, there is a subsidy.

If there wasn't.

1.The government won't be passing a budget for it....see here

2.The control of the price would be in the hands of the marketers, and the importers, not the government.

3.And anyway, if it was 'regulation' as you put it,it is still a bad economic practice, as it is, in principle, forces marketers to sell fuel below the actual cost...so goverment has to pay them or they would make losses.

What government has done now is

1)Since 2017, made NNPC the sole importer of fuel

2.Forces NNPC to sell at a loss to marketers

3.Pays NNPC the 'subsidy'....which may rise or fall depending on how much NNPC loses to selling fuel.

That's why removing subsidy, and allowing marketers to control the price, while bringing about high prices, ends up allowing for massive investment, and jobs, since there is no loss.

It is never good economic practice anyway for government to be controlling, or even 'regulating' prices of anything.

It has been 150 since Monday and e no affect us the children of Adonai !!! You Nigerians must learn

Yes it has increased. Mobil @ 149.50 ngn

Una go learn say Fulani no fit rule this country. They destroy whatever they touch

aljharem:
Yes it has increased. Mobil @ 149.50 ngn

Una go learn say Fulani no fit rule this country. They destroy whatever they touch

1.So what do you have to say about Jonathan increasing fuel prices in 2012 from N65 to N97?

2.Also, tribe aside, what this government is even doing(by setting prices for fuel...and not allowing people to set their own price...so that competition and investment eventually bring down the price) is wrong. And from your comment, you want government to force the price of fuel down to a point where it would become unprofitable for most marketers to be in business...

I.E bring back the bad old days of fuel scarcity.

If you want more refinereis, and increased domestic production, while you should not support this Buhari's government increase, you would be better off supporting a government that ends price controls on fuel.

Or would you like it if you bought shirt at N1500, and govt forced you to sell it at N500 instead of the N2000 you originally wanted to sell it at?

GEJ did the right thing in 2012 by originally increasing fuel from N65 to N140. I wish he had hands off controlling the price...by now we would have ten refinereis, more jobs and the price of fuel would have been below N120 per liter.

Whazar:
Next level

F**k + f**k next devil.