Najriya: There is no plan to increase the price of a liter of fuel - Oil dealers The Oil Dealers and Energy Distributors Association in Ni...

 

Najriya: There is no plan to increase the price of a liter of fuel - Oil dealers

The Oil Dealers and Energy Distributors Association in Nigeria has refuted claims that it intends to raise the cost of a litre of gasoline to 700 naira.

The oil dealers association denied the rumours that her brothers will raise the price with her approval at a meeting with the media in Abuja, calling the rumour a hoax.

She asserted that the market is currently deciding what to do about gasoline, and given the rise in the cost of foreign currencies and the decline in the value of the naira, it must be assumed that fuel prices will rise, which is what has sparked rumours.

The naira lost value on Friday, when the central bank sold one US dollar for 769 naira and 25 kobo.

If Nigeria begins importing oil in July, some fuel traders predict that the cost of a litre of fuel in the north of the country might rise to 700 naira and to 600 naira in the south and in Lagos.