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Punch Newspapers Sections Published 11 January 2021 The sustained increase in global crude oil prices has pushed up the landing cost of imported petrol closer to the current pump prices of the product in Nigeria, and appears to have triggered a return to petrol subsidy era, ’ FEMI ASU reports Since November 13, 2020 when the pump prices of Premium Motor Spirit (petrol) were last increased in the country, the price of the international oil benchmark, Brent crude, has been on an upward trajectory, rising from $41.51 per barrel to close at $51.22 per barrel on December 31. Fuel marketers had i...

Fuel subsidy: Let’s shift to Autogas, FG tells MOMAN, IPMAN, others On Kindly Share This Story: By Udeme Akpan AS an immediate response to the rising price of petrol, and by extension, the return of fuel subsidy, the Federal Government has urged operators in Nigeria’s downstream sector of the petroleum industry to shift to Autogas. The call becomes necessary as Autogas is cheaper, about 60 per cent of the current price of petrol, which price could have hit the roofs at about N181.53 per litre, without government intervention through the Nigerian National Petroleum Corporation, NNPC. The ...

Outrage As Filling Stations Refuse To Comply With N5 Reduction In Petrol Price By Idowu Maryam Despite the order from the Federal Government on December 8th, for a slash in the pump price of Premium Motor Spirit (PMS), known as petrol by N5 from Monday, motorists have continued to express frustration as most filling stations are yet to comply with the order. The Breaking Times learnt that the two filling stations in front of the headquarters of the Nigerian National Petroleum Corporation in Abuja, Conoil and T...

Punch Newspapers Sections ’Femi Asu and Okechukwu Nnodim Oil marketers, on Monday, failed to adjust the pump prices of Premium Motor Spirit (petrol) at their filling stations to reflect the N5 reduction announced by the Federal Government last week. After meeting with officials of labour unions in Abuja last week, the Minister of Labour and Employment, Dr Chris Ngige, announced that all parties resolved that the price of petrol be reduced by N5 per litre with effect from December 14. But filling stations visited by our correspondents in Lagos, Abuja, as well as parts of Niger and Nasarawa s...

TODAY AHA Taxis Fuel marketers have kicked against the N5 reduction in petrol pump price announced by the Federal Government of Nigeria on Tuesday. The marketers said the Federal Government does not have the power to determine the price of petrol unless the country returns to the subsidy system. The Minister of Labour and Employment, Dr Chris Ngige, had announced the petrol price cut at the end of a meeting with labour leaders which began around 9 pm on Monday and ended at 1:30 am on Tuesday. “Our discussion was fruitful and the Nigerian National Petroleum Corporation, which is the major ...