The Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, on Monday insisted that the price of premium motor spirit, also known as petrol, it intends to import will be cheaper than the current rate sold in the country, Vanguard Newspaper reports.
In a statement by its National Public Relations Officer, Dr. Joseph Obele, the group said competition must be allowed in a deregulated environment.
Obele disclosed that the group had incorporated a business unit that would enable it to bring in petrol before December.
It disputed the allegation by Dangote Refinery that the marketers intend to import substandard products at a cheaper rate, saying the claims were not surprising.
Meanwhile, reacting to allegations of blending substandard petrol near Dangote Refinery, Pinnacle Oil and Gas Limited has said it is not involved in blending substandard petroleum products.
Also, PETROAN disclosed that it was not aware of the cost of petrol from Dangote Refinery until the refinery released a press statement.
Obele stated: “Intensive or aggressive competition in any market brings the best value for money exchange for a commodity. Consumers get the best value for pricing when competition is at it’s peak, hence competition should be encouraged.
Obele stated: “Intensive or aggressive competition in any market brings the best value for money exchange for a commodity. Consumers get the best value for pricing when competition is at it’s peak, hence competition should be encouraged.
