Connect with us

Hi, what are you looking for?

TVCE Articles

Fuel scarcity looms as dollar appreciates against the naira

TVC E. Major oil marketers in Nigeria are considering increasing the pump price of petrol following the lingering scarcity of dollars and high exchange rate.

According to the marketers, the exchange rate which went to as high as N400 to $1 last week, is seriously affecting them as they cannot continue to import fuel at such rate and sell at the Federal government stipulated price of N145 per liter.

Many of them say if the N400 to $1 persists, they will be forced to increase the pump price.

Advertisement
The Federal government on May 11th liberalized the downstream sector of the petroleum industry and announced an increase in the pump prices of petrol from N86 and N86.50k per liter to between N145 per liter.
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Tech

Nvidia, the renowned US tech giant, has revealed its latest breakthrough in artificial intelligence (AI) chip technology, boasting capabilities that outperform its predecessor by...

Sports

Manchester United secured their place in the FA Cup semi-finals and dashed Liverpool’s hopes of clinching four trophies in a thrilling quarter-final clash at...

Entertainment

J. Cole has released the second episode of his vlog series, “Might Delete Later,” treating fans to fresh music and behind-the-scenes glimpses from his...

Tech

Reportedly, Apple is considering a collaboration with Google to incorporate Gemini-powered features into iPhones. This potential partnership would give Google a significant edge, as...

Copyright © TVCCommuniation owner of TVC Entertainment