FCCPC expects petrol prices to fall as crude oil drops
The FCCPC says it expects a reduction in petrol pump prices to reflect the recent drop in international crude oil prices without undue delay. Read More: https://punchng.com/fccpc-expects-petrol-prices-to-fall-as-crude-oil-drops/
The Federal Competition and Consumer Protection Commission (FCCPC) expects petrol pump prices to decrease to reflect recent declines in international crude oil prices. According to Punch, the commission is monitoring global oil market developments to ensure that lower production costs translate into reduced prices for petroleum products at filling stations across the country.
The FCCPC has warned oil refiners and marketers against maintaining high prices for petrol and diesel despite the drop in crude costs. Punch reports that Brent crude futures have fallen from a September peak of $115 per barrel to below $90 this week. Despite these trends, petrol prices in Abuja currently remain between N1,405 and N1,420 per litre.
Brief written by urgent.news from Punch Nigeria, Punch — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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