The Truth About Crude Oil Prices and What Nigerians Deserve

Each time the cost of crude slides—as it is now—the cost of petrol and other derivatives in the value chain should also slide.

Also, as crude oil prices go up, it is a given that the prices of white products will go up. That is the practice in countries where marketers do not exploit their citizens.

In my estimation, the “Naira for Crude” arrangement should even make petroleum products cheaper because all the costs associated with importation of petroleum products in dollars and the cost of funds will reduce due to home-based production of petrol.

Therefore, let no marketer take credit and bamboozle Nigerians into believing they are doing us a favor by reducing petroleum product prices.

If Nigerians are well informed, they will fight for adjustable prices in line with the up and down movements of crude price.

Grace and peace!!!