Local News :

Home   >   News   >   General News   >   200910
Fuel Prices Up By 5%   
  << Prev  |  Next >>
Comments ( 0 )     Email    Print
The National Petroleum Authority (NPA) has announced a five per cent increases in fuel prices which takes effect on Saturday.

The increases follow hikes in crude oil prices in the world market which hovers around $80 per barrel.

Media reports had speculated the price hikes but hinted government was going to absorb the increases.

However after a meeting between stakeholders on Friday the decision was taken to pass on the marginal price hikes to consumers.

The new increases have thus been communicated to the Oil Marketing Companies or OMCs.

Already, there appears to be an artificial shortage of the commodity as fuel stations are alleged to be hoarding the commodity for purposes of making more profit.
Source: Myjoyonline

Comments ( 0 ): Post Your Comments >>

Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority.