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The FCCPC has warned petrol marketers against keeping petrol prices high despite the recent drop in global crude oil pricesThe Commission said petrol prices have not fallen enough, even though crude oil prices have declined significantly The FCCPC vowed to investigate and sanction any marketer found engaging in price manipulation or anti-competitive practices
Legit.ng journalist Victor Enengedi has over a decade’s experience covering energy, MSMEs, technology, banking and the economy.
The Federal Competition and Consumer Protection Commission (FCCPC) has cautioned petroleum marketers against taking advantage of consumers, insisting that the current pump prices of Premium Motor Spirit (PMS), popularly known as petrol, should better reflect the recent decline in international crude oil prices.
In a statement released on Sunday, June 28, 2026 the Commission said its ongoing monitoring of Nigeria’s downstream petroleum sector had revealed signs that consumers were not fully benefiting from the reduction in crude oil prices.
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