The Chairman of the Major Oil Marketers Association of Nigeria (MOMAN), Olu Adeosun, has stated that oil marketers are considering possibilities of bringing down the cost of petrol in the country.
Recall that the price of Premium Motor Spirit (PMS), also known as petrol, increased to over N500 per litre, from N189 per litre.
The increase was driven by the removal of fuel subsidy by President Bola Tinubu. This led to the complete deregulation of the oil industry, as market forces now determine the price.
