Marketers react to NNPC’s claims of reduction in price of fuel

The Nigerian National Petroleum Corporation (NNPC) had on Sunday stated that its sustained intervention in the efficient supply and distribution of petroleum products had led to a significant fall in the price of Premium Motor Spirit, known as petrol; also a significant drop in the price of Liquefied Petroleum Gas, known as cooking gas.

The corporation said a national survey by its oil and gas forum indicated that in the last few weeks, the price of petrol had fallen significantly from N145 per litre to between N143 and N142 per litre in some stations across the country.

But oil marketers, the Depot and Petroleum Products Marketers Association refuted the NNPC’s claims on the crash of the PMS price, arguing that the corporation might have reduced petrol price at its own stations because of its relative ease of assessing foreign exchange.


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