Energy
Expert predicts downward review of petrol pump price
National President of Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, says the pump price of petrol may drop marginally in October.
According to him, once the cost of petrol has been largely determined by the price of crude oil, the recent marginal plunge in crude oil cost could lead to a drop in the price of petrol in Nigeria.
Brent, the global benchmark against which Nigeria’s crude oil is priced, dropped in price by $1.66 or 4.06% as at 13.20 pm Central Standard Time.
The commodity (Brent) traded at $39.27 per barrel at the same time, while the cost of crude in the OPEC Basket was put at $39.94 per barrel.
Crude oil in the OPEC basket also dipped by $1.77, when compared with the price it traded on the previous day.
-
Business2 days agoOPay explains how Nigerians can access FG’s N50,000 monthly cash relief
-
Sports6 days agoSenegal opens Dakar 2026 Youth Olympic Games, Africa’s first Olympic event
-
Football1 week agoU-17 Women’s World Cup: Flamingos Beat Mexico to Reach Quarter-Finals
-
Latest6 days agoFG Announces N50,000 cash support for vulnerable Nigerians under new relief programme
-
Business6 days agoNNPC’s N66-per-litre petrol discount set to end October 31
-
Latest6 days agoINEC recognises Pantami for Gombe, keeps Kano NDC candidate off final list
-
Latest7 days agoNetanyahu, Eisenkot face coalition deadlock as Israel struggles to form new government
-
Latest6 days agoNDC Chieftain tells Atiku to drop presidential ambition over son’s support for Tinubu