OIL PRICE DROP: FCCPC Warns Fuel Importers, Refiners, Others Against Exploiting Consumers

| We’re adjusting prices based on commercial considerations – Marketers
By Nse Anthony-Uko, Abuja, and Chika Izuora, Lagos
The Federal Competition and Consumer Protection Commission (FCCPC) has warned refiners, importers, depot operators, marketers and retail outlet owners against exploiting consumers after finding only marginal reductions in the prices of petroleum products despite a sharp fall in global crude oil prices.
This is as petrol import landing cost dropped to N983.92 per litre, falling below Dangote Refinery’s gantry price of N1,125 per litre, according to data from the Major Energies Marketers Association of Nigeria (MEMAN).
The warning followed the FCCPC’s ongoing su...