Research by the National bureau of statistics shows that the average fuel price across the country has remained significantly higher than official pump price despite efforts by the Nigerian National Petroleum Corporation, NNPC, and the Ministry of Petroleum Resources to beef up supplies and enforce compliance to price regime.
The monthly research report of the National Bureau of Statistics, NBS, entitled ‘Premium Motor Spirit (Petrol) Price Watch’, fuel prices averaged N107.4 per litre in July 2015 as against the stipulated pump price of N87.
Last month, the Department of Petroleum Resources, DPR, set up a task force to supervise and monitor the sale of petrol in some depots, against the reports that most petrol stations were selling fuel at prices significantly above the official price due to a hike in ex-depot prices.
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