The Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN and the Independent Petroleum Marketers Association of Nigeria, IPMAN have suggested how the pump price of Premium Motor Spirit, PMS can be reduced as prices race towards N1,400 per litre.
The national presidents of PETROAN and IPMAN, Billy Gillis-Harry and Abubakar Maigandi, in separate interviews with DAILY POST on Tuesday, said federal government intervention and a clampdown on anti-competitive petrol pricing were necessary solutions to reduce rising fuel prices.
DAILY POST reports that fuel pump prices increased by between N40 and N100 per litre in the last two weeks.
The latest upward adjustment in fuel prices comes as the majority of filling stations, including Nigerian National Petroleum Company Limited, NNPCL and MRS, raised their petrol prices to between N1,310 and N1,345 per litre in Abuja and its environs.
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