Topic: Petroleum price (Read 154 times)

I think this year petrol price will come down, reason being that the locally made petrol popularly known as (kpo fire) is already making wave. People prefer buying the locally made refined petrol because it is cheaper. And there is competetion in the market between government fuel ⛽ pump price, and locally made petrol price. Even the local petrol is competing each other. Do you know that 2 months ago the local refined petrol was sold at #800 per 1.5ragolis plastic bottle. but do to the competition among sellers the current price is now #600 per ragolis 1.5liter, making it difficult for petrol stations to sell as they normally sell before.

Although not every body that like buying from the black market. But condition of the economy is now making or forcing people to buy it, or to find it interesting like never before. They even go to the extent of mixing original petrol with black market. So with this point I have made, I believe that fuel price will come down because no body is willing to spend money in something that they can get cheap. petrol stations are loosing there customers to black market. And in any competitive market price always come down. On like monopoly Market where only few set up price and do as they want  and that is the cause of some price hyke in the economy.

The only way this would work out a reality is if this so politicians who makes promises during their electoral campaigns at most especially the issues of fuel which has a key role holding to play that is effective to the economic and societies welfares.
So, the supreme court could mandate documentaries that every political individuals must sign into as an agreement between the politician and the masses. Meaning it is mandatorily compulsory that the politician must be committed to his promises else there goes a law to charge him if gone Contrarily. This as a threat would serve them with fears to be abiding to the wills of the people and of course his promises.

Nobody knows the accomplish of Nigeria. But people's are hope that this 2024, the price of petroleum will have been doing dropped I don't think that will happen right now, and even that is going to happen, it won't happen this year it will take time. I don't think they will take us into consideration and lower the price of petroleum because of the way Nigeria is now going. Since they haven't met their targets, they are even planning to raise the price once more. because they want to ensure that the price of petroleum to reaches 1000 Naira, which I am confident it may be happen given that the present price of petroleum is approximately 660. Furthermore we don't know what will occur in a month. Nigeria is just interested in making large profits, which they do not work for, and if they keep up this trend, we will continue to suffer on a daily basis.


You are aspected that the cost of petroleum in our nation will drop to #100, despite the fact that the cause of living seeks to exterminate the living. Politicians are no longer trusted again, you still rely on them, after  promise and failed, but When they are vying for positions, all that's how they will be making mouth with promise and they the election, we won't be able to see them again. The most unexpected thing is that, during Baba Buhari's administration, everything—including food stuff—was moved along regularly. But after Baba Tinubu took office and the following few months, we had numerous challenges.
Although there have been rumors circulating for some time that the refineries in Lagos and Delta would soon begin operations, which has not happened as of yet. Are you hope that once the refineries are starting operating, the price of fuel will drop, after we are all aware of the issues we're facing in our nation and the poor quality of our leaders.

This issues of patrol in a national issue dat need to be look into all Price of commodity rise as a patrol rises ,so definitely we need urgent step .yes they say portherourt refinary will start working by December,and dangote will start by January which may lead to downfall of patroleum Price but until now nothing happen ,how will any reasonable government rely on importation of his own citizens could buy of a producer cannot finish his product until he rely on international refinary in certain case's before selling to citizens.that is what we call third party marketing strategies so if dollar high we buy high or govt pay partial subside to maintain fair prices.the price will still fall bcoz Nigeria are wicked they want to get high profit,and if that's d case we may continue to suffer,the people themselves stand And resist through demonstration blackout and total resistant through propaganda and industrial action,may God help Nigeria Amen

It's either you say Petro price or Petroleum products prices.

Dangote Refinery has been announced to start refining petroleum products and their are many sources that said they have received some crude oil from different oil field but guess what, the people that deliver the crude oil is a private company that belong to the foreigners and not national, so if Dangote is to pay this people that supplied the crude oil, it is going to be in dollars and not in Naira. This means even Dangote will be spending more dollars to received the crude oil to be able to still refine for Petroleum products. This will be having pressure on Naira while the dollar will be appreciating.

So many people are expecting petrol price to reduce because Dangote is refining petroleum products that will not happen, not even now because they are only producing Aviation fuel and diesel for now, they are yet to make any production of Petro fuel. So our reserve will remain short for now until they start production of Petro but even if they produce, don't expect the price to reduce that much, you should be expecting something within the range of + or -100 at least or most.

I just know that will should not espect a drastic fall in petrol price as far as the refinery is a private owned, they will actually refined and sell what they buy, the only solution to this is to have an accountable president which will build 2 or more refineries this will not only reduce the high cost of fuel but also provides job opportunities, but I don't just see that in this current president.

No be miracle dem need for economy to better. Na calculated effort minus corruption. If Nigeria no fix the refineries and electricity problem, everything go still dey as we dey see am and fuel go still dey increase. Nigerian government no want to fix the structures wey dey needed for growth but instead dem still dey play politics on top everything while people dey die, dey suffer.

Na true you talk...nothing for this country wey dn go up come later come down as of my knowledge oh

This na very thick question wey I nor know for sure. As we all know say na the fuel subsidy wey dem remove naim make the price of Petrol come increase, and with the way things dey go, the president no be like who they plan on putting back the subsidy. So to me everything depends on the president, if e get compassion and reason our matter, na for there we go fit see road, but for now the price be like wattin wan even increase join, so I no sure say the price dey go down.

I greet everybody for this forum.
This particular talk about PETROLEUM PRICE weak me ohh, because of petroleum many filling station don shot down, the thing con even make everything hard for naija, the thing con even make our goods for market to cost, people dey fear to go buy wetin them go eat for market because of the cost of everything, the price of petroleum is really high this year.

Wetin people go do,how them won take live life wey things done be like this, even the one them dey call black market, government no gree approve that one.
The country this year nah god go help us all, so abeg make we try to manage ourselves and make good effort I no say e no easy but everything go better one day.

If you ask me, then I will say that we should not expect any possibility of price reductions in the price of fuel, if the dollar rate Vs Naira keep increasing at the current level and limits, this is what affects most of the things, because even the Dangote refinery still have some crude oil supplies issues with the Nigeria government and if care is not taking the refinery may kick up with an imported crude oil for refining and if that becomes the case, it then means that, we may likely going to buy the fuels at the international rate when his refinery starts operations.

And as long as he imports we can buy at domestic price, and even the government own refinery that they said it has been revitalise is still not operational, so what exactly will drag the price down?

So we need to wake up to reality and face it, let try to caught cost and also making sure that we have extra savings so as to stand against the harsh economy as result of hike in fuel price.

I heard that the dangote refinery have started working but I'm not sure this will be a guarantee for the price of petrol come down because the same dangote has other product in the country like cement and others, cement that is being produced in Nigeria is still very expensive like it is being imported to Nigeria. Petrol price will keep increasing,  dangote refinery is not going to change anything to make the price come down,  how politicians are not ready to change this country for good , they are still joking.

My brother things dey spoil every blessed day by day and I wonder if a go actually get time wey all these hardship fo stop because like the country don condition so many to adjust their way of life and the one way dey pain again na the price of dollar wey dey rise every day by day and nothing wey our government dey do to actually fit this high of the dollar against our naira although many people wey dey here fit dey pray make the dollar dey rise as dem dey get funds as dollar but dat go be selfishness because the rate of people way dey suffer plenty pass you wey no get problem.

You deh worry about fuel price for Nigeria, you know how much diesel and kerosene them be. Abi na cooking gas own we go talk? Those ones deh more expensive than fuel weh you deh talk self. This government and hardship for the masses na something else. Our people are suffering. Na God go save this country so.

Why will you believe that the price of petrol will reduce to N100 because a politician made a promise that it will be so after he/she has been elected. Economy is getting worse after every regime and you think it can just be solved overnight without some kind of diligence process? We as citizens will remain hopeful for a better Nigeria but not as soon as some people think the change is going to happen.


Let us hope so and watch if the price of petroleum will reduce following the operation on the new refineries that are expected to start working soon. I still doubt whether it is the refineries that will pack that is making the price this high, but time will tell it is so or it’s just our politicians that are manipulating us to believe so.

The issue of petroleum in Nigeria is in the hands of God bro, I thought by now the price of petroleum will decrease back to #100 per liter which is the price some politicians promised us during the general election campaign, but I hard that the price of petroleum has moved to #1,200 in this new year. Well, nothing last forever, if our supreme court  judges in Nigeria can delivered justice to some states governor's that dueling won the election show that this issues of petroleum in Nigeria will be a thing of the past in our country soon.

Since Lagos refinery and Delta state refinery are about to start production in the country, I think the price of fuel will reduce in the country because the problem we are facing in this country that is making the price of fuel continue increasing is because Nigeria don't have refinery that is functioning in the land which it will stop soon once all those Nigeria refineries start working.

What is the faith of Nigeria's in the price of petroleum in 2024?