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.
You really have a point. Deflation doesn't common in country like Nigeria. But if the recent price doesn't come down, at least it won't increase anymore because I'm hearing the price of petrol will increase to around #750 by early next year. May be it's a rumour or true, no one can say but it will be good if this new refinery can help to stabilize the price.