PETROAN Urges Marketers On Fuel Price Cuts
The Petroleum Products Retail Outlets Owners Association of Nigeria has urged refiners, depot owners and fuel importers to reduce their prices in response to the recent fall in global crude oil costs.
The association said current market conditions support a downward review across the supply chain.
The group noted that the drop in crude prices should reflect in the cost of petroleum products in the domestic market.
It called on key players in the sector to make immediate adjustments to avoid delays in passing benefits to consumers.
According to the association, aligning local fuel prices with global trends would help ease pressure on motorists and businesses already affected by high energy costs.
It also stressed the need for fairness in pricing across all stages of distribution.
PETROAN added that timely price changes would support market stability and ensure that consumers benefit from improvements in the international oil market.
