Nigerian oil marketers are optimistic about additional petrol price reductions, with prices potentially dropping below N935 per litre. This comes after President Bola Tinubu reiterated his stance on removing fuel subsidies, stating it was necessary to save future generations.
Currently, MRS filling stations and the Nigerian National Petroleum Company Limited (NNPCL) are selling petrol at N935 and N965 per litre, respectively. Industry leaders, such as PETROAN and IPMAN, attribute the price cuts to deregulation and market competition. They expect further reductions as market forces continue to influence prices.
Credit: Daily Post
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