Nigerian consumers may soon see relief at the pump as depot prices for petroleum products have begun decreasing following the drop in global oil prices. Major fuel depots including Mainland, A.Y.M, Ever, Prudent, Eterna, and Soroman have already reduced their prices by several naira per liter.
Billy Gillis-Harry, President of Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), expressed optimism that “the development would culminate in low costs of fares, goods and services if the fundamentals persist in the market.”
Oil marketers are expected to adjust their pump prices downward as they receive new supplies this week, potentially bringing much-needed economic relief to Nigerian consumers.
Source: vanguardngr.com
