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Oil Marketers Push for Petrol Price Hike Despite Presidency Assurances

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Despite President Tinubu’s reassurances last week that the price of petrol will remain the same, there are indications this may not be the case soon.

This is as a result of the forex market as the Naira is now trading between 900 and 920 naira.

The Punch Newspaper is reporting that some oil marketers say at this rate, the pump price of petrol may not remain at between 570 and over 600 per litre if the current exchange rate lingers on.

However, earlier this week, president, Independent Petroleum Marketers Association of Nigeria, Chinedu Okoronkwo told Nigeria Info there is no cause for alarm with regards to possible increment in fuel anytime soon.

Speaking on Nigeria Info’s The Newsroom, Okoronkwo says, the loan from AFREXIM bank will also play a huge role in stabilizing the price for the meantime.



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