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Why FG’ll continue to determine petrol price, after deregulation of downstream sector — Minister

Re-Ignite / Business  / Why FG’ll continue to determine petrol price, after deregulation of downstream sector — Minister

Why FG’ll continue to determine petrol price, after deregulation of downstream sector — Minister

The Federal Government, said yesterday it has deregulated the downstream petroleum industry. 

The government, however, said it would continue to intervene in determining the pump price of Premium Motor Spirit, PMS, also known as petrol, to safeguard consumers of the commodity from being exploited by oil marketers.

 Addressing newsmen in Abuja, Minister of State for Petroleum Resources, Chief Timipre Sylva, stated that the deregulation came into effect on March 19, 2020.

Source: https://www.vanguardngr.com/2020/05/why-fgll-continue-to-determine-petrol-price-after-deregulation-of-downstream-sector-minister/

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