'Petrol Pump Price May Rise Further In Nigeria' – Marketers Raises Alarm

Date: 04-10-2024 9:30 pm (4 weeks ago) | Author: onuigbo felicia
- at 4-10-2024 09:30 PM (4 weeks ago)
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More problems loom for Nigerians as Nigerian oil marketers have hinted that there may be a fresh Premium Motor Spirit (Petrol) price hike amid escalating tensions between Israel, Iran and other parties.

The President of the Petroleum Products Retail Outlets Owners Association, PETROAN, Billy Gillis-Harry, disclosed this on Friday in an exclusive interview with DAILY POST.

According to him, the rising price of crude, including Nigerian blends, to around $78 per dollar portends an imminent rise in the price of petrol in the country.

His comments come despite the inaugural distribution of petrol by Dangote Refinery on September 15, 2024.

Gillis-Harry said that amid Nigeria’s dependence on the import of fuel, there is the likelihood of a rise in pump price, which currently stands at between N950 and N1,150 per litre nationwide.

“The price of petroleum products will go up with the Iran and Israel conflict escalation in the Middle East, not only in Nigeria but globally. That is already a known principle.”

Gistmania reports that Brent and Nigeria’s crude futures stood at above $77 per barrel on Friday amid escalating conflict between Israel and Iran.

Earlier, the Nigerian National Petroleum Company Limited announced a fresh petrol pump price after it lifted fuel from Dangote Refinery on September 15.


Posted: at 4-10-2024 09:30 PM (4 weeks ago) | Addicted Hero
- Jiiitk4 at 5-10-2024 06:57 AM (4 weeks ago)
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Please shoot it up to five thousand naira per liter. Wetin concern Igbo . Hausa and Yoruba said Igbo cannot be president of Nigeria. We are watching.
Posted: at 5-10-2024 06:57 AM (4 weeks ago) | Gistmaniac
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- gogoman at 5-10-2024 11:14 AM (4 weeks ago)
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 Roll Eyes Roll Eyes Roll Eyes
Posted: at 5-10-2024 11:14 AM (4 weeks ago) | Grande Master
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