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Commodities

Crude Oil Price Drop Puts Pressure on Nigerian Fuel Marketers to Cut Prices

Guavy AI Editorial Team
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The recent drop in crude oil prices has put pressure on Nigerian petroleum products marketers and refiners to cut the price of Premium Motor Spirit, PMS.

A market survey by DAILY POST showed that Brent crude and West Texas Intermediate (WTI) dropped by 0.99% and 1.58% to $103.9 and $100.3 per barrel, respectively.

This decline in crude oil prices has led to a decrease in domestic fuel prices, as Nigerian filling stations dispense petrol at between N1,395 and N1,450 per litre.

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