Why Can't Fuel Price Reduce In Nigeria When Crude Oil Prices Are Dropping?

High subsidy payments, devaluation of the naira and low capacity utilisation of the country's refineries have been identified as factors denying Nigerians a reduction in the pump price of petrol amid falling global oil prices.

A visit by our correspondent revealed lack of activity in some stations in several parts of the state. For instance, at Oando and Conoil filling stations at Obalende in the afternoon, attendants said they were not selling because
they had exhausted the products they had and were awaiting tankers to bring products.

Read More...http://talkafrica.co/ng/p/9516/why-the-price-of-fuel-will-not-fall-when-global-oil-prices-c
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