The Major Oil Marketers Association of Nigeria (MOMAN) has said the price of petrol can’t go as low as N200 per litre, even if the refineries are revamped. The association noted this, following a report published recently, where the Independent Petroleum Marketers Association of Nigeria (IPMAN) said petrol price would crash below N200 per litre if the refineries became functional …

Officially, the price of petrol is now N185 per litre, up from N170/litre. The increase takes immediate effect. In the new price regime, the ex-depot price also shot up from N148/litre to N167. But the product – officially known as Premium Motor Spirits (PMS) – has largelly been sold for between N200/litre and N300, and even much more in most …