“(We) extend our deepest empathy to all citizens during this time.” – 11 Plc, TotalEnergies, Conoil, ardova plc, MRS The international price of crude oil and the exchange rate constitute the largest components of the cost build-up for Premium Motor Spirit (PMS) otherwise known as petrol accounting for over 80 percent. The Major Oil Matketers Association of Nigeria, which said this during a virtual press conference on Wednesday, added the remaining 20 percent includes statutory dues, distribution costs, and margins. Platforms Africa reports that the Nigerian National Petroleum Company…
Read MoreWhy, How Petrol Price Hit N617 Per litre – Marketers
