PENGASSAN says oil marketers are exploiting Nigerians, arguing that petrol should retail between ₦700 and ₦750 per litre, not the current ₦850–₦900. The union blames regulatory failure and political interference in refinery operations.
- Current pump prices are unjustified despite the $60 crude oil benchmark.
- Marketers allegedly inflate prices; the regulator, NMDPRA accused of lax oversight.
- PENGASSAN urges transparency in the pricing template to protect consumers.
- Refineries remain shut despite $2.5bn spent on rehabilitation.
- Union proposes the NLNG ownership model to revive refineries.
- Supports FG’s executive order to cut upstream costs.
PENGASSAN’s comments expose growing public frustration with fuel pricing and the seeming inefficiency of Nigeria’s energy regulators. The union's insistence on a pricing benchmark rooted in global oil metrics suggests that current fuel prices may be more politically inflated than economically justified.
Until the NMDPRA steps up enforcement and pricing transparency, Nigerians may keep paying more at the pump, despite favourable crude prices. Meanwhile, unresolved refinery politics continue to cripple local production, forcing reliance on imports.
