Nigerian oil marketers have asked the Buhari administration to provide a pricing formula that will guide the monthly adjustments in the pump price of Premium Motor Spirit (PMS), popularly known as petrol. They said this would forestall dislocations at the retail end of the value-chain. The Major Oil Marketers Association of Nigeria (MOMAN), Depot and
Nigerian oil marketers have asked the Buhari administration to provide a pricing formula that will guide the monthly adjustments in the pump price of Premium Motor Spirit , popularly known as petrol.The Major Oil Marketers Association of Nigeria , Depot and Petroleum Products Marketers Association of Nigeria and Petroleum Products Retail Outlets Owners Association of Nigeria, made the call at webinar on Thursday.
The dealers explained that they thread cautiously because the Petroleum Products Pricing Regulatory Agency still determines the price the product is sold despite deregulation.Nigeria’s oil sector had been deregulated. MOMAN Chairman, Adetunji Oyebanji, said that if the market determines the prices, there will be marginal changes rather than everyone rallying around to change prices.
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