FG Pressures Marketers On Fuel Prices
The Federal Government has directed petroleum marketers to reduce petrol prices in line with the recent drop in global crude oil prices.
The move is aimed at ensuring Nigerians enjoy the benefit of lower international oil costs instead of paying inflated pump prices.
The government said the fall in crude oil prices should be reflected across the downstream petroleum sector. It warned marketers and other operators against delaying price reductions without valid commercial reasons.
Officials noted that consumers should not be made to bear unnecessary costs when market conditions have improved.
The government also stressed the need for fair pricing in the deregulated petroleum market.
The directive comes as calls grow for petrol prices to fall below current levels. Many Nigerians have urged marketers and refiners to pass on lower costs to consumers following the decline in global oil prices.
