OIL AND GAS

Increase in Fuel Price Imminent as Landing Costs Increase_Ada Nkong

As landing cost increases from N151 to N180 in response to increase in the price of crude oil in the international market, NNPC,IPMAN ,MOMAN and other stakeholders have met to decide on a new pump price for fuel.

Indications are that the new price will be N190 .

Crude oil prices rose fro. $58 to $63 in the international market

Sources say stakeholders are not favorably disposed to the increase which would mean the NNPC will continue to bear the cost of subsidy.

The meeting is ongoing.

Details later……

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