The federal government has called on petroleum marketers to cut pump prices in line with falling crude costs, following a stakeholders’ meeting with Dangote Refinery and sector operators.
FUEL PRICE PUSH
The Federal Government has urged marketers to slash petrol prices to reflect falling crude costs, Daily Post reports.
Minister of State for Petroleum Resources, Heineken Lokpobiri, made the call at a Monday stakeholders’ meeting, noting Brent crude has dropped from about $118 to below $70 a barrel.
He said deregulation does not permit “excessive profits” and that government prefers dialogue over enforcement, urging marketers to build consensus on lowering prices without harming business viability.
The meeting included officials from the FCCPC, Dangote Refinery, MEMAN, DAPPMAN, IPMAN, NARTO, and PETROAN.
NEWS NOW:
