The National Petroleum Regulatory Agency has just announced an increase in the pump price of petroleum products effective immediately.
This statement came after recent shortage incidence in the country over the last few days.
The statement reads as follow:
Following recent developments in the international market of petroleum products, the Petroleum Regulatory Agency, Ministry of Finance, Ministry of Trade and Industry and the Oil Marketing Companies (OMCs), have jointly reviewed the pump prices of petroleum products to reflect the recent movements in the Platts and here announce the following pump prices with immediate effects.
All OMCs and Fuel Dealers nationwide are urged to adhere to the new pump price. The Government and OMCs have agreed to reform the downstream petroleum way of adjusting fuel pump prices that seek the interest of the general public