Motorists Demand Cheaper Petrol As Crude Prices Fall, Marketers Hold Pump Rates

Motorists and commuters are demanding lower petrol prices after crude oil prices fell from levels recorded during the recent Middle East tension.

Daily Trust reported that consumers in several states urged the federal government and petroleum marketers to reduce pump prices as global crude prices eased.

Vanguard reported that oil marketers continued to sell Premium Motor Spirit at high prices despite the fall in crude oil to pre-war levels.

Daily Trust said Brent crude dropped from recent highs after tensions in the Middle East eased.

The report also noted that Dangote Refinery reduced its gantry price by N50, bringing it to N1,125 per litre.

Consumers in Kano, Rivers, Borno, Benue and Kwara complained that transport costs and business expenses remained high despite the change in global oil prices.

NaijaTrend previously reported fuel-price adjustments after Dangote Refinery’s gantry price cut here. The latest reports focus on why pump prices have not fallen further after crude prices eased.

Sources: Daily Trust; Vanguard