the pump prices of Premium Motor Spirit, popularly known as petrol, oil marketers have said, attributing this to the recent increase in the cost of crude oil at the international market.
Crude oil price had fallen below $30 per barrel earlier this year, but as of May 2, 2016, the commodity’s cost rose to $45.83, according to data obtained from the Nigerian National Petroleum Corporation on Saturday in Abuja.
The oil marketers who told punch correspondent that the current challenge they faced in the industry was how to sustain the improvement in the supply of petrol across the country.
They said they had started importing petrol as many oil majors and a few independent dealers were accessing the United States dollars, as promised by the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu.
The Corporate Affairs Manager, Nipco Plc, a renowned oil marketing firm, Mr. Lawal Taofeeq, stated that the petrol subsidy issue must be managed properly by the government in order to ensure adequate sustenance of the present improvement in fuel supply across the country.
continue
No comments:
Post a Comment