The federal government has admitted to adjusting the pump price of petrol to cater for the impact of high AGO diesel price on the cost of product transportation across the country.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) which made this known in a statement, yesterday, also said it was making special provision of diesel to marketers at a reduced price.
Recall that the minister of state for petroleum resources, Chief Timipre Sylva, had in the wake of the increase in the price of petrol at filling stations, said the federal government did not give approval for such action.
In a statement titled, “Update on the Supply and Distribution Of Premium Motor Spirit (PMS) Nationwide” the NMDPRA attributed the current fuel scarcity in the country to the activity of smugglers, “who divert PMS meant for Nigerian market to neighbouring countries where PMS prices are significantly higher than Nigeria’s regulated price.”
