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LequteMan
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According to experts in the petroleum sector, petrol pump price is unlikely to rise again, despite a gradual bounce recently recorded in the price of crude oil. Punch reports:
Stakeholders in the Nigerian petroleum industry have allayed fears of a possible upward review of the pump price of Premium Motor Spirit, popularly called petrol, by the Federal Government following the gradual rise in the prices of crude oil in recent times.
Brent crude reached a 2015 high of $62.57 on Monday this week, but lost $1.57 cent on Wednesday on concerns about weak demand as a result of uncertainty in Europe about threats to Middle East production and the effect of United States output cuts.
A past Chairman, Independent Petroleum Marketers of Nigeria (Western zone), Mr. Olumide Ogunmade, told our correspondent on the telephone on Tuesday that it was unlikely that the Federal Government would review upwards the pump price of petrol despite crude prices picking up in recent times.
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#Nigeria #Petrol
Stakeholders in the Nigerian petroleum industry have allayed fears of a possible upward review of the pump price of Premium Motor Spirit, popularly called petrol, by the Federal Government following the gradual rise in the prices of crude oil in recent times.
Brent crude reached a 2015 high of $62.57 on Monday this week, but lost $1.57 cent on Wednesday on concerns about weak demand as a result of uncertainty in Europe about threats to Middle East production and the effect of United States output cuts.
A past Chairman, Independent Petroleum Marketers of Nigeria (Western zone), Mr. Olumide Ogunmade, told our correspondent on the telephone on Tuesday that it was unlikely that the Federal Government would review upwards the pump price of petrol despite crude prices picking up in recent times.
click here to read more
#Nigeria #Petrol
