The Federal Competition and Consumer Protection Commission (FCCPC) has expressed concerns about the current price of petrol in filling stations across Nigeria.
Naija News reports that the FCCPC, in a statement on Sunday, observed that marketers were quick to increase prices following the earlier spike in global crude oil prices.
It recalled that petrol climbed to between ₦1,350 and ₦1,500 per litre, while diesel sold for as high as ₦2,000 as hostilities intensified in the Gulf between April and May.
It, however, noted that petrol is still being sold at an average of ₦1,200 nationwide, with some local refiners fixing gantry prices between ₦1,025 and ₦1,075 despite the deescalating tensions in the Middle East.
The FCCPC warned that it won’t allow marketers to sell at unfair prices.
Details later…
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