Oil marketers say petrol price template should be reviewed regularly

The Major Oil Marketers Association of Nigeria has said the pricing template for Premium Motor Spirit should be reviewed regularly to ensure that the price of the commodity reflects the reality on the ground.

The Chairman, MOMAN and Managing Director, MRS Oil Nigeria Plc, Mr Andrew Gbodume, in a press briefing said, “We have a template and we are expected to follow the template. But what we should be looking at is a situation whereby the template is regularly visited, because we know that as of the time the template was worked upon and we had a price of N145, the price we are buying crude and petroleum products is not the same.”

“So, we should look at a situation whereby the template will be visited regularly, maybe every month or every quarter, to ensure that the price we have has to do with the reality on the ground. When we get to start looking at that, the issue of whether there is subsidy or not will come into play, because today, nobody can categorically say that this is the subsidy that is on fuel because we are not importing; it is only the government that is importing. So, it is only the government that can actually tell you that this is the actual price.”

Source: The Punch

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