RON97 is more expensive than RON95. Facebook: number of monthly active users worldwide 2008-2020, Smartphone market share worldwide by vendor 2009-2020, Number of apps available in leading app stores 2020, Profit from additional features with an Employee Account. This will benefit a lot of motorists as they will be able to fill up their vehicles at lower prices whenever crude oil prices fall. Price adjustments are made based on the average price per liter of refined oil. “President Buhari should also take steps to fulfill his promise to revamp our refineries or accept his failures and apologise to Nigerians. There was anger across the land on Friday after a new petrol price of N170 per litre unexpectedly came into effect. “The promise to revamp the economy and stop fuel importation is one of the reasons we voted for this government. Your support for our journalism is invaluable. National Vice President of IPMAN, Alhaji Abubakar Maigandi, said: “The (PPPMC) last midnight told us that the ex-depot price is now N155.17 per litre. What lovely news this is: The petrol price is dropping once more in South Africa, with November's new costs coming into effect on Wednesday. “It is evident that the continuous increase in the pump price of fuel under opaque and nebulous indices is a product of incompetence and large scale corruption being perpetrated by a few individuals in the Buhari administration, who are bent on fleecing Nigerians and holding our nation to ransom. He also noted the price will still depend on the forces of demand and supply. “Such humongous fraud in the management of our oil resources is responsible for the high costs and unspeakable hardship being suffered by millions of Nigerians who can barely afford their meals and basic necessities of life. Gas prices in the United States 1990-2019, U.S. transportation sector gasoline & distillate fuel consumption 1992-2019, WTI and Brent crude oil: average annual spot prices 1990-2019. Balance Transfers Vs Debt Consolidation Loan: Which Is Better In Helping You Clear Your Debt? Please do not hesitate to contact me. We have directed our marketers to sell for N170 per litre.”. Emmanuel Olorunmagba said on Facebook: “Harder time beckons on Nigerians as petrol price in the country to hit N170 as ex-depot price rises to N155 effective today, November 13, 2020.”, Chimezie Chukwuka Callistus said: “Can we survive this?”, Oyefeso Oladayo said: “Like seriously we don enter next levels finally,” while Adesegun Ogundeji said: “Nigeria elites and inconsistencies. Small Manhood And Premature Ejaculation Made Me Stay Away from Love Making For 4yrs...But These Simple Solutions WORKED! “This development came after we received a circular from PPMC, advising us on the upward review of the price after it reviewed the market fundamentals for the month of November 2020. NNPC advised marketers to make their purchases through the online Customer Express platform at the recommended prices. It also said the corporation was aware of the purported increase in the Pipelines Product Marketing Company’s ex-coastal price and ex-depot price (with collection) to N130 and N155.17 respectively. Profit from additional features by authenticating your Admin account. All Rights Reserved. You have reached your limit for free articles this month. “Hopefully, it will be resolved soon and everybody will start selling.’’. In Delhi,the price of petrol was hiked by 8 paisefrom Rs81.38per litre to Rs 81.46, while diesel rates were increased by 19 paise from Rs70.88per litre to Rs 71.07 per litre. Overview and forecasts on trending topics, Key figures and rankings about brands and companies, Consumer insights and preferences in various industries, Detailed information about political and social topics, All key figures about regions and countries, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Technology Market Outlook The General Secretary of FIWON, Mr Gbenga Komolafe, told reporters in Abuja that workers in the informal sector were being particularly hit by government policies such as the incessant hike in fuel price. If you are a frequent driver, petrol expenses are likely going to be one of your main expense categories. Updated: November 20, 2020 10:14 am IST. There was anger across the land on Friday after a new petrol price of N170 per litre unexpectedly came into effect. 17 per litre. He said: “We know this was bound to happen as the price is now determined by market forces. Brent crude futures, the global oil benchmark, rose 0.38 per cent to USD 44.37 per barrel on Friday. Prices of fuel have been changing on a monthly basis since September 2018, but it will now return to a weekly price system based on the Automatic Pricing Mechanism (APM) formula. “The government should also invest in refineries like other OPEC (Organisation of Petroleum Exporting Countries) members. The party also said the new price was unbearable in the face of current economic realities foisted on the nation by the Muhammadu Buhari administration. Hybrid/Electric vs Petrol Cars: Which is cheaper in the long run? Fuel Prices Today: In Delhi, the price of petrol is Rs 81.23 per litre and diesel Rs 70.68 per litre.
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