Diesel, kerosene prices fail to drop despite oil crash
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He added that the presence of weak competition in the market could also be responsible for the development as a dominant player could influence prices.
“If there is strong competition in that space, prices should have been coming down. But there is also the argument that foreign exchange rate has gone up,” Yusuf said.
Nigeria, Africa’s largest oil producer, relies largely on importation for petrol and other refined products as its refineries have remained in a state of disrepair for many years.
Meanwhile, the Association of Distributors and Transporters of Petroleum Products has commended the Nigerian National Petroleum Corporation for supporting the association with diesel as part of efforts to ensure uninterrupted supply of fuel across the country.
The Zonal Chairman of the association, Alhaji Bashir Dan-Mallam, gave the commendation while speaking to newsmen on Sunday in Kano.
He noted that the support given to the association would go a long way in enhancing steady fuel supply nationwide during the partial lockdown in the country over the coronavirus pandemic
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