Demand, supply driving kerosene prices up – NNPC

The Nigerian National Petroleum Corporation (NNPC) has attributed the increased in the price of household Kerosene in the country to the pressure of demand and supply.

The NNPC Group General Manager, Group Public Affairs Division, Ndu Ughamadu, in a chat with the News Agency of Nigeria (NAN) on Sunday in Abuja explained that with the price of the product deregulated is it difficult to regulate the price.

“The important thing is that the trend you are seeing there had to do with supply and demand. The more the demand, the higher the price locally,’’ he said.

“The point remains that the prices of the kerosene is deregulated.

“It is not as controlled with reference to Premium Motor Spirit (PMS) known as Petrol, that is why we see the prices moving up and down.

The Corporation’s spokesman said its remained the sole importer of the product and had been augmenting it with the skeletal production from the refineries.

He reiterated the commitment of the corporation to the adequate supply of petroleum products for Nigerians.

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