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Business personal lamenting as Fuel ⛽ price is increasing every day in Nigeria

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Akerele Tobi Praise
@tobywalter
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The situation of petrol has become the talk of the town for some period and solutions are yet to be provided this situation has affected so many business negatively and some individuals has decided to sit at home for some time due to the high price of petrol that leads to high tariffs of transportation and many other things so business persons have decided to to restock their good because of cost of goods in the market their are limited variety of good and for the available one the price is 2x the formal price all this lead to petroleum scarcity and high price
And this is causing a serious unrest for everyone Last year December 2022 petrol is sold at 185 naira but few days to Xmas it was increased to about 200 naira
January this year the price went up further to 250per litter and right now it is sold for 300 to 320 in some places What could be the reason for this ?

What is the reason for this high price of petroleum ?

*Are there not petroleum in the country?

  • Is this a strategy to maximize profits? *Or the refineries are drying up ? What could have been the cause of this fuel scarcity?

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