Ojiefoh rules out immediate fuel price drop, expects decrease in 2-3 weeks
Former Edo State Oil Commissioner Enahoro Ojiefoh told News Central TV that fuel prices won't drop in the next few days despite global crude declines, dashing hopes for immediate relief at the pump. He spoke after oil marketers maintained high prices following eased US-Iran tensions.
Ojiefoh expects prices to start falling in 2-3 weeks once marketers clear existing stock purchased at higher rates. Dangote Refinery recently cut gantry price by ₦50, with petrol now selling between ₦1,250-1,300/litre in some areas. This reflects the gap between falling international oil costs and local pump prices.
At current rates, filling a 50-litre tank costs approximately ₦62,500-₦65,000. With no immediate relief in sight, commuters face budget strain. Will you adjust travel plans now or absorb continued high fuel costs while waiting for the anticipated price drop?