Why does fuel prices differ across countries? Fuel prices can be broken down into these major components.
- fuel oil cost
- refining cost
- distribution cost, wholesale and retail
- taxes, excise and VAT/sales tax What is a purchasing power parity index? Indices of purchasing power parity are used to compare real income levels across countries based on a nation's ability to buy goods and services. What is a purchasing power parity index? Purchasing	power	parity	exchange	rates,	PPPs,	are	international	multilateral	price	indexes	that	measure,	for	the	various	components	of	GDP,	the	amount	of	local	currency	required	to	purchase	the	same	real	amount	in	that	country	relative	to	a	numeraire,	which	is	typically	the	United	States.	Non-traded	goods	are	typically	cheaper	in	poorer	economies,	so	that	PPPs	are	typically	lower	than	exchange	rates	for	poor	countries,	and	are	more	so	the	poorer	the	country What is a producing power index? Indices of producing power parities are also used to compare real estimates across countries. Producing power parity estimates are used to examine production-related phenomenons—differences in countries' ability to produce (as opposed to consume), goods and services. Where does Nigeria fit into the world Purchasing Power Parity index? Nigeria	
GDP per capita, Purchasing Power Parity
 Latest value	4969.22
 Reference	2021
 Measure	U.S. dollars
 Source	The World Bank

For that indicator, we provide data for Nigeria from 1990 to 2021. The average value for Nigeria during that period was 4098.47 U.S. dollars with a minimum of 2901.77 U.S. dollars in 1995 and a maximum of 5516.39 U.S. dollars in 2014. The latest value from 2021 is 4969.22 U.S. dollars. For comparison, the world average in 2021 based on 173 countries is 21226.17 U.S. dollars.
It makes no sense for oil to be cheaper in Nigeria than in Saudi Arabia.
Claim: It makes no sense for oil to be cheaper in Nigeria than in Saudi Arabia.

Evidence: Why does fuel prices differ across countries? Fuel prices can be broken down into these major components.
- fuel oil cost
- refining cost
- distribution cost, wholesale and retail
- taxes, excise and VAT/sales tax What is a purchasing power parity index? Indices of purchasing power parity are used to compare real income levels across countries based on a nation's ability to buy goods and services. What is a purchasing power parity index? Purchasing	power	parity	exchange	rates,	PPPs,	are	international	multilateral	price	indexes	that	measure,	for	the	various	components	of	GDP,	the	amount	of	local	currency	required	to	purchase	the	same	real	amount	in	that	country	relative	to	a	numeraire,	which	is	typically	the	United	States.	Non-traded	goods	are	typically	cheaper	in	poorer	economies,	so	that	PPPs	are	typically	lower	than	exchange	rates	for	poor	countries,	and	are	more	so	the	poorer	the	country What is a producing power index? Indices of producing power parities are also used to compare real estimates across countries. Producing power parity estimates are used to examine production-related phenomenons—differences in countries' ability to produce (as opposed to consume), goods and services. Where does Nigeria fit into the world Purchasing Power Parity index? Nigeria	
GDP per capita, Purchasing Power Parity
 Latest value	4969.22
 Reference	2021
 Measure	U.S. dollars
 Source	The World Bank

For that indicator, we provide data for Nigeria from 1990 to 2021. The average value for Nigeria during that period was 4098.47 U.S. dollars with a minimum of 2901.77 U.S. dollars in 1995 and a maximum of 5516.39 U.S. dollars in 2014. The latest value from 2021 is 4969.22 U.S. dollars. For comparison, the world average in 2021 based on 173 countries is 21226.17 U.S. dollars.

Which of the following options is true?

Options: 

 - supported

 - refuted

 - not enough evidence

 - conflicting Evidence/Cherrypicking
not enough evidence
Claim: It makes no sense for oil to be cheaper in Nigeria than in Saudi Arabia.

Evidence: Why does fuel prices differ across countries? Fuel prices can be broken down into these major components.
- fuel oil cost
- refining cost
- distribution cost, wholesale and retail
- taxes, excise and VAT/sales tax What is a purchasing power parity index? Indices of purchasing power parity are used to compare real income levels across countries based on a nation's ability to buy goods and services. What is a purchasing power parity index? Purchasing	power	parity	exchange	rates,	PPPs,	are	international	multilateral	price	indexes	that	measure,	for	the	various	components	of	GDP,	the	amount	of	local	currency	required	to	purchase	the	same	real	amount	in	that	country	relative	to	a	numeraire,	which	is	typically	the	United	States.	Non-traded	goods	are	typically	cheaper	in	poorer	economies,	so	that	PPPs	are	typically	lower	than	exchange	rates	for	poor	countries,	and	are	more	so	the	poorer	the	country What is a producing power index? Indices of producing power parities are also used to compare real estimates across countries. Producing power parity estimates are used to examine production-related phenomenons—differences in countries' ability to produce (as opposed to consume), goods and services. Where does Nigeria fit into the world Purchasing Power Parity index? Nigeria	
GDP per capita, Purchasing Power Parity
 Latest value	4969.22
 Reference	2021
 Measure	U.S. dollars
 Source	The World Bank

For that indicator, we provide data for Nigeria from 1990 to 2021. The average value for Nigeria during that period was 4098.47 U.S. dollars with a minimum of 2901.77 U.S. dollars in 1995 and a maximum of 5516.39 U.S. dollars in 2014. The latest value from 2021 is 4969.22 U.S. dollars. For comparison, the world average in 2021 based on 173 countries is 21226.17 U.S. dollars.

Which of the following options is true?

Options: 

 - supported

 - refuted

 - not enough evidence

 - conflicting Evidence/Cherrypicking
user
not enough evidence
assistant