IES said world market indices indicate marginal increments which are likely to result in hikes at local pumps barring interventions from government.
IES Principal Research Analyst Richmond Rockson released a statement according to that, the negative price indicators, thus 5 % jump in the price of Gasoline, 1.98 percent rise in Gasoil price, and the not-so-positive foreign exchange point to price increments at the pump for the first Pricing-window for the month of February 2018. However, the Institute for Energy Security is of the view that prices can remain same if the government intervenes through the National Petroleum Authority’s Price Stabilization mechanism.
IES local Fuel market performance review in the second pricing window of January 2017 shows consumers of petroleum products had to pay more at the local pumps as negative indicators caused prices to be adjusted upwards as projected by the institute.
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