Business Petrol: Comparing Nigeria's Newly Reduced Prices With Other Countries'

Vunderkind

Social Member
Nigeria has finally joined other countries that have lowered the price of petrol due to the global decline in oil prices. Nigeria's pump price for fuel, as announced on Januarl 18th, 2015, will experience a N10 drop from N97.

The Sun newspaper has compared the new price of N87 with the prices as obtainable in other countries, including China, Vietnam, Pakistan, India, United Kingdom among others.

An excerpt from the paper reads:

In South Africa, the government reduced the price of petrol by 1.27 South African Rand (R) (about N16) and R1.23 a litre.

The country also reduced the price of diesel by between R1.04 and R1.05 per litre.

In China, petrol price was reduced by 170 yuan (N4942.19 or $27) per ton and lowered diesel price by 400 yuan per ton.

Vietnam reduced the country’s gasoline grade to 310 Vietnames Dong (VND) (about N3), or 1.7 per cent, to VND17,570 (N148.02 or 82 US cents) a litre.

Click here to read more

Source: #DailySun

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