Govt denies fuel price hike, uncertainty lingers – The Guardian
November 2, 2009 by Bunmi Awolusi
Regulators of the petroleum industry yesterday reacted to the latest rumbling in the sector, which assumed a worrisome dimension at the weekend as long queues returned to filling stations across the country.
Although the Federal Government has postponed the November 1 take-off of the deregulation of the downstream sector of the oil and gas industry, marketers who alleged that the Nigerian National Petroleum Corporation (NNPC) has reviewed upward product prices, at the weekend adjusted their pump price or refused to sell to motorists.
In a reaction to the marketers’ claims, the NNPC yesterday said there was no truth in the charge.
Also yesterday, the Department of Petroleum Resources (DPR) said it would begin the monitoring of the activities of fuel stations today to deal with those hoarding fuel to create artificial scarcity.
