Following the increase in the pump price of Premium Motor Spirit also known as petrol, oil marketers have stated that the country may be heading for a total deregulation of its downstream oil sector very soon, The Punch reports.
Explaining that the current petrol price regime was a sign that the sector might be fully deregulated in the near future, the Executive Secretary, Major Oil Marketers Association of Nigeria (MOMAN), Mr. Obafemi Olawore, said, “What we have now is a step towards deregulation. Deregulation is actually the end point; we are in the process and we will get there.”
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Headline crude prices for the week beginning 12 November 2018 – Brent: US$71/b; WTI: US$60/b
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