That means a gallon goes N580 at the filling stations, which is still N20 less than the price of a gallon of the stuff at a roadside petrol vendor and I can get my fill of the product at any filling station nationwide.
Also I just realized that this subsidy removal still places the liter of petrol at less than $1, which is N198 at the official exchange rate. In fact it is 26.67% less.
It might seem unwarranted a decision to take by the government, but given the pros and cons, it is still a fairly ok policy to adopt, given the hope that it will eliminate this artificial fuel scarcity we are perpetually faced with.
And can you just imagine some filling stations have opened for business this morning, selling their old stock at the new price?
Another anyway, filling stations located along inter-state roads and highways have for long been selling the product at the rate of over N200/ltr. So, what's new?
Let's make it official and deal with the saboteurs of our economy.
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