THE PRICE OF PETROL AND CRUDE OIL

When the Obasanjo government proposed and forcefully implemented the deregulation of the petroleum sector against mass public opposition, it was based on the argument that demand and supply should be allowed to fix prices. Nigerians have been forced to bear successive increment in petroleum prices under the gaise of removing an unending ever increasing subsidy. All the increment coming despite the fact that income remained relatively stable in the country, while the government constantly eroded the consumer surplus, telling the masses these was for there good. I wonder who was benefiting, we the citizens facing a dying state of infrastructure, job insecurity,unemployment and rising rate of crime? Or they the elites who are getting fatter and richer.Finally God intervened in our case by dropping the price of crude oil; Yes by making Nigeria poorer and the masses richer through expected fall in prices due to deregulation. Alas the opposite has been the case,with prices unchanged and even rising in Portharcourt.