let’s just hope it’s true and make fuel price come down.
What do you think its price went up in Nigeria that later went down? Inflation can make the price of goods and services to go up, but for a country to have deflation, it is not easy and government only prefer to keep the price just stable than to be looking for ways to bring the price of goods and services down. I am not expecting the price of petrol and other crude oil by-products to come down. But maybe this might help in a way the price of petroleum products will not be increasing. It might help to minimize inflation.
It always difficult for price of goods and commodities in Nigeria to go down after going up because our marketers are also contributing to this hardship we are in this country.
If the refinery starts working proper, just as you said, we will have a bit relief in scarcity of petroleum products and will limit importation of petrol across the country since it is available here.
Also, I think if this PH refinery starts to de work, it will encourage the government to put more effort in repairing the remaining refineries we have as well encourage other private sectors willing to build and venture into oil refining to start as well.