Friday, 16 November 2012

China reduces price of petrol products, as Nigeria prices constantly soar

 China says it is acting based on international oil markets
While the Federal Government in Nigeria is making efforts to completely deregulate the downstream sector of the petroleum industry that will see an increase in pump price of petrol from the current (official) N97 to at least N141 per litre, the Chinese Government has for the fourth time this year reduced the price of petrol for its motorists.
Starting from Friday, Chinese motorists will pay a reduced price for petrol and diesel. In China, price for petrol per litre has been reduced by 0.22 yuan (N5.5) while the price per litre of diesel has been reduced by 0.26 yuan (N6.6).
The price reduction is the fourth in 2012.

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