Have you bought diesel lately from a filing station? If you have then you must have paid between N150 and N160 per litre depending on the filing station and/or location. Now this will seem illogical considering that diesel is not subsidized and oil prices has been falling since July. Considering these factors how much should diesel be going for? Here is the expected open market price according to the PPPRA.
So rather than sell for N111.16/litre diesel is selling for between N150 and N160. Considering that subsidy has since been removed for diesel one then wonders why the prices don’t reflect reality. Many have also wondered why fuel price is yet to reduce considering that oil price has been dropping for Months now. In fact, according to the PPPRA website, Nigeria now spends just N0.99 (99 kobo) per litre on Fuel subsidy compared to over N40 earlier in 2014. Can this government sort out this anomaly as this is a daylight rip off!!
