Yoruba Assembly: NNPC not manipulating petrol price — market has been deregulated

Ayodele OluwafemiYoruba Stakeholders Assembly, a socio-cultural group, says the Nigerian National Petroleum Company is not manipulating the prices of petrol.

“Contrary to popular belief, it is imperative to clarify that neither the government nor the Nigerian National Petroleum Company Limited possesses the authority to fix the price of PMS.“The pricing mechanism for PMS has undergone a significant transformation, evolving into a deregulated market where market forces predominantly dictate prices.

“Recent discussions have brought to light the fact that NNPC Ltd procured fuel from Dangote Refinery at a cost of N898 per litre. “This has been possible due to NNPC Ltd covering the shortfall — an effort that, while noble, has become an unsustainable endeavor.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Petrol: We are not at our full market pricing level yetNNPC said the current increase in petrol pump price does not reflect free market conditions.
Source: PremiumTimesng - 🏆 3. / 78 Read more »

NNPC: New petrol price doesn't reflect market realitiesNNPC says the current price of premium motor spirit, also known as petrol, does not reflect market realities.
Source: thecableng - 🏆 2. / 80 Read more »

'It's determined by market forces' -- NNPC speaks on petrol price hikeThe Nigerian National Petroleum Company (NNPC) Limited says the price of premium motor spirit, also known as petrol, is determined by market forces.
Source: thecableng - 🏆 2. / 80 Read more »