Petrol Price Hits N1,200/Litre as Independent Marketers Follow After NNPC
10 Oct
Politics

Petrol Price Hits N1,200/Litre as Independent Marketers Follow After NNPC

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Politics tamfitronics The price of Premium Motor Spirit (PMS) popularly known as petrol has risen across the country as independent oil marketers, which account for the majority of retail outlets have adjusted the pump price of petrol to about N1,200 per liter. This development follows the Nigerian National Petroleum Company Ltd’s (NNPC) decision to end its exclusive purchase agreement with Dangote Refinery and Petrochemical Company.The price adjustment, which took effect on Wednesday, reflects the cost at which marketers purchased the product from Dangote Refinery.It should be noted that the national oil company had previously bore the cost of subsidizing the product to the target users.A survey of filling stations across the FCT revealed that many have adjusted their pump prices to align with the new market reality.The deregulation of the downstream sector allows marketers to...
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HUGE petrol, diesel price cut coming: Don’t fill up yet!
30 Aug
Top Stories

HUGE petrol, diesel price cut coming: Don’t fill up yet!

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Top Stories Tamfitronics The latest price projections for South Africa’s motorists for September 2024 shows that excellent news lies ahead for petrol and diesel vehicle owners.Both petrol and diesel are forecast to see massive decreases at the pumps next week.Below, the latest projections as received by The South African website from theCentral Energy Fund (CEF), effective Thursday, 29 August.FUELPRICE CHANGEPetrol 93decrease of 89 centsPetrol 95decrease of 97 centsDiesel 0.05%decrease of 79 centsDiesel 0.005%decrease of 105 centsIlluminating Paraffindecrease of 103 centsIf the market conditions were to remain consistent for the remainder of the month – an unlikely scenario with the rand/dollar exchange rate ever fluctuating and the oil price changing – a decrease of 89 cents is expected for petrol 93 octane motorists and a decrease of 97 cents for 95 users.Meanwhile, diesel motorists would...
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Petrol, diesel sales rise in July, power demand subdued
04 Aug
Business News

Petrol, diesel sales rise in July, power demand subdued

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Business new tamfitronics TNN / Updated: Aug 2, 2024, 06:27 ISTAAText SizeSmallMediumLarge Monsoon showers failed to cool India's appetite for petrol and diesel but subdued power consumption in July, govt data showed on Thursday. Diesel sales growth turned positive, registering a growth of 3.4% from the year-ago period, reversing the trend for last several months, while petrol demand saw a spike of 9.5% annually. Power consumption rose by a meagre 3.5% to 145.4 BUs (billion units) during the month from 140.4 BUs a year ago as widespread rains brought down temperatures.This is in contrast to 8-9% growth seen in last few months. End of ArticleFOLLOW US ON SOCIAL MEDIABusiness new tamfitronics Visual Stories Hot PicksTOP TRENDING
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NNPC Reacts to Petrol Scarcity in Parts of Lagos and Abuja, Reveals Cause
27 Jul
Politics

NNPC Reacts to Petrol Scarcity in Parts of Lagos and Abuja, Reveals Cause

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Politics tamfitronics The Nigerian National Petroleum Company (NNPC) Limited has attributed the scarcity in parts of Lagos and Abuja to a hitch in the discharge operations of a couple of vessels.In a statement released on Saturday, Olufemi Soneye, the chief corporate communications officer of NNPC, explained that the company is working tirelessly with stakeholders to resolve the challenge and restore normalcy in fuel supply and distribution.“The NNPC Ltd. wishes to state that the tightness in fuel supply and distribution witnessed in some parts of Lagos and the FCT is as a result of a hitch in the discharge operations of a couple of vessels,” Soneye said.“The Company further states that it is working round the clock with all stakeholders to resolve the situation and restore normalcy in the operations.”The petrol scarcity comes on the heels...
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