Fuel price: NMDPRA reveals when petrol prices will drop

The Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, has revealed erstwhile Nigerians tin expect little Premium Motor Spirit, PMS, pump prices nationwide.

George Ene-Ita, Head of Public Affairs astatine the NMDPRA, said successful a caller interrogation that substance prices could go much favourable to consumers erstwhile home refining becomes much robust.

His comments came amid a caller summation successful the pump prices of substance and different petroleum products nationwide.

DAILY POST reports that successful the past 2 weeks, petrol prices person surged importantly to betwixt N1,310 and N1,350 per litre from betwixt N1,210 and N1,275, aft depot owners and Dangote Refinery raised their ex-depot and gantry prices.

Reacting, the NMDPRA spokesperson maintained that the country’s petrol pump prices person been wholly deregulated.

According to him, factors including the authorities of home refining, the sourcing of crude lipid arsenic feedstock and the clip lag betwixt erstwhile crude lipid is sourced offshore and erstwhile it yet arrives astatine the refinery lend to substance terms volatility successful Nigeria.

Speaking connected erstwhile Nigerians could get immoderate respite, helium said, “Per...