Fuel subsidy is the reason for PMS price hike so I don't understand why they can't be in the same thread ; if everyone opens a thread when a price goes up or down in different locations what do you think would happen?
I don't think I was harsh in my approach
Fuel was below ₦198 to ₦250 before, after the subsidy was removed, it jumped to ₦530.
But according to the recent news:
The pump price of Premium Motor Spirit, popularly called petrol, was raised from N537/litre to N617/litre at some filling stations operated by the Nigerian National Petroleum Company Limited in Abuja on Tuesday.
Recall that President Bola Tinubu had during his inaugural address on May 29, announced that subsidy on petrol had ended, a development that led to the jump in the price of the commodity from N198/litre to over N500/litre on May 30, 2023.
Since the withdrawal of subsidy on petrol and the floating of the naira against the dollar, marketers had continued to explain that the cost of PMS could rise to as high as N700/litre.
Similarly, the rise in the cost of crude oil in the international market has also triggered further hike in petrol price, as crude is the product from which PMS and other refined petroleum products are produced from.
Or you can read the news in full:
https://punchng.com/breaking-marketers-adjust-pumps-as-fuel-price-hits-n617-litreThis is no more about fuel subsidy.