Amid the increase in petrol pump price, the Major Oil Marketers Association of Nigeria (MOMAN) has said the international price of crude oil and exchange rate constitute largest the components of cost build-up for the commodity, accounting for over 80 percent.
The remaining 20 percent, it noted, includes statutory dues, distribution costs, and margins.
The Nation reports that In a statement issued at a virtual meeting of the Association by its Chairman, Mr. Olu Adeosun, the body noted that in a liberalised market, the pump price of petrol should accurately reflect the current economic realities.
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