NMDPRA: Fuel Price Volatility Caused by Global Market Shocks
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has attributed the latest surge in fuel pump prices to the “vagaries of market forces” following the escalation of the US-Israel-Iran war. NMDPRA spokesperson George Ene-Ita stated on Sunday that under the current deregulated regime, the government no longer dictates prices. Instead, local costs are directly…