Petroleum Pump Price

Why petrol prices are high despite cheaper crude

Despite relatively low crude oil price  ($65.25/ barrel), the Premium Motor Spirit (PMS) cost remains as high as N955 per litre in the Federal Capital Territory (FCT) because marketers purchased the product from a third party. The Independent Petroleum Marketers Association of Nigeria (IPMAN) National President, Abubakar Maigandi revealed this to The Nation on Wednesday.

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