Politics
Petrol Prices Expected To Plummet To N300/Litre With Local Refining, Operators Suggest
Petrol Prices Expected To Plummet To N300/Litre With Local Refining, Operators Suggest....KINDLY READ THE FULL STORY HERE▶
The Crude Oil Refinery Owners Association of Nigeria has projected that petrol prices could plummet to as low as N300 per litre once indigenous producers and operators of modular refineries in Nigeria, such as Dangote, commence operations……….CONTINUE READING
In an interview with Punch, the association’s Publicity Secretary emphasized the potential for significant cost reductions.
He argued that current high prices are largely due to the dependence on imported petroleum products, which benefit foreign companies at the expense of Nigerians.
Highlighting the impact of Dangote’s refinery on diesel prices, which dropped from N1,700-N1,800 to N1,200 per litre upon its operation, he suggested that similar reductions could occur with petrol prices once local refining capacities are fully utilized.
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