New Price Regime for Fuel
Hooray!! The price of fuel has been reduced from Seventy Naira to Sixty Five.
That was three days ago. Imagine, in anticipation of a price increase, the stations increase the price at the pump. Sometimes there is a scarcity of the product.
Now there is a reduction. Oh thank goodness there is no interuption of supply, but there has been no change in the price yet.
Can anybody guess how long it will take to reflect at the filling stations?
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the reduction simply means that whenever the price of crude oil goes up to 70 or 100 dollars again we are expected to pay like 150 to 200 naira a litre.
No more subsidy.
IOW, win or lose, we lose