Africa Press-Nigeria:
Reacting to the observed silence from the Petroleum Products Pricing Regulatory Agency (PPPRA), oil marketers have gone ahead to set new pump prices (between N148 and N150/litre), shooting well above the initial market price.
According to oil marketers and workers, the regulatory agency had left the industry confused, registering its displeasure on what it called an attempt to “deregulate” the downstream petroleum sector.
In a statement credited to the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), the decision of the agency to stay silent was uncalled for, especially “when the country is still relying on imports for refined products.”
As at the time of this report, the PPPRA was yet to issue a new guiding retail petrol price for the month of August as its practice on monthly bases.
PPPRA, since its inauguration, has been serving as an agency to regulate the oil sector especially in areas of pricing, ensuring marketers sell their commodities at a fair market price to the populace.
